Markets are flat early Tuesday ahead of A closely-watched gauge on inflation in the U.S.
Economists expect that Tuesday's report on consumer prices will show U.S. inflation slowed to 6.2% in January. That would be down from 6.5% the month before and a significant drop from this summer's peak of more than 9%.
The debate on how hawkish the Fed should be is playing out against the backdrop of a decidedly lackluster earnings reporting season. Companies in the S&P 500 are on track to report a nearly 5% drop in earnings for the final three months of 2022 compared with a year earlier, according to the data firm FactSet.
Japan's benchmark Nikkei 225 gained 0.6% to finish at 27,602.77. Australia's S&P/ASX 200 edged up 0.2% to 7,430.90. South Korea's Kospi added 0.5% to 2,465.64. Hong Kong's Hang Seng lost 0.1% to 21,134.55, while the Shanghai Composite rose 0.3% to 3,293.28. Yields were mixed Monday ahead of the inflation report. The yield on the 10-year Treasury, which helps set rates for mortgages and other important loans, dipped to 3.70% from 3.75% late Friday. The two-year yield, which tends to move more on expectations for the Fed, was at 4.49%.
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