Global Markets- Holiday Calm Before the Data Storm

U.S. stock and bond markets were closed on Monday for Presidents’ Day, with thin holiday trading volume globally.

The mainland Chinese, Hong Kong, Singapore, Taiwan, and South Korea markets were closed on Tuesday for the Lunar New Year holidays.

Investors await FOMC minutes on Wednesday, January retail sales on Tuesday, and Friday’s PCE inflation data and Q4 GDP figures. Core PCE expected to accelerate 0.3% month-over-month, potentially curbing dovish sentiment after last week’s softer CPI print

The Nasdaq Composite fell 2% last week, and the S&P 500 declined 1.4%, driven by sell-offs in AI-vulnerable stocks. Investors grew increasingly reactive to AI disruption concerns, with sentiment shifting from absorbing challenges to triggering widespread selling across tech sectors

Spot gold fell to $4,997/oz. as Chinese markets closed for the Lunar New Year and U.S. markets were closed for Presidents’ Day, reducing liquidity. A stronger dollar and uncertainty over Federal Reserve rate policy following Kevin Warsh’s nomination as the next Fed Chair pressured precious metals.

Crude oil rose to $63.61 with focus on Tuesday’s second round of U.S.-Iran negotiations in Geneva. President Trump indicated support for Israeli strikes on Iran’s missile program if talks fail, adding geopolitical risk to markets.

The rupee bucked the broader regional trend of gains in Asian currencies and equities, settling slightly lower after an upside surprise in inflation numbers.

After two healthy correction sessions, Nifty staged a sharp rebound, gaining 211 points to close at 25,682 yesterday. Nifty reclaimed levels above its 20 and 50-day exponential moving averages. Yesterday’s low of 25,372 establishes it as new strong support. A decisive close above 25,752 would negate bearish technical implications, paving the way for a rally toward the next resistance at 26,000.

Source: HSL Prime Daily, 17 Feb 2026