The global equity markets are mildly mixed heading into the the start of the week. S&P Futures are down about 10 points to trade around the 4482 area. The market has been relatively quiet with a range bound session high of 4504.25 and a low of 4471.25.
In Asia, China rose 2% while Japan slid 0.7%. Chinese markets returned to action with a tidy advance following the Lunar New Year festivities. Traders dismissed the latest Caixin Services PMI data that showed a slower expansion in January to 51.4 compared to the December reading of 53.1. In Japan, the Nikkei was weighed down by semiconductors with Advantest losing 3% and Tokyo Electron shedding over 1%.
In Europe, the major bourses are little changed. The DAX may be stalling after German Industrial Production missed expectations. The December print dropped 0.3% compared to the forecast of 0.4%. Outside of that, the economic slate was minimal. Mining stocks are representing notable strength with names such as Antofagasta, Glencore and Anglo American advancing by about 1%.