Good morning. US stock futures inched higher in Monday morning trading as investors stay on watch for the consumer price index numbers for insights into the pace of inflation as well as retail sales data.

"There's no such thing as a value trap. There are investing mistakes"

Mohnish Pabrai

Top News

G20 turns attention to crypto regulation

• India's Finance Minister Nirmala Sitharaman says the Group of 20 nations (G20), consisting of the world's largest economies is investigating the possibility of collectively regulating cryptocurrencies.

• "We are talking with all nations about if we can make some standard operating procedure which is followed by everyone to make a regulatory framework and if it can be effective" Sitharaman said, whose country is this year's G20 President.

OPEC chief tells climate activists' "see the bigger picture"

• The leading official of the Organization Of Petroleum Exporting Countries (OPEC) called on nations to significantly increase their investment in oil in order to meet the global energy demands of the future.

• "It is imperative that all parties involved in ongoing climate negotiations pause for a moment; look at the bigger picture" Haitham Al-Ghais, OPEC's Secretary General said at an energy conference in Egypt.

UK considers Ukraine as hub for arms manufacturing

• According to a report by The Telegraph, British military weapons and vehicles could be manufactured under license in Ukraine, reducing the country's reliance on arms supplies from Western allies.

• The British publication added that British defense industry executives had travelled to Kyiv to discuss plans to set up joint ventures to manufacture weapons and vehicles locally.

In Other News

Need a loan?

• For the month of January, Chinese banks granted a historic number of new loans spurred by authorities encouraging them to increase lending to businesses.

• Financial institutions offered 4.9 trillion yuan ($719 billion), higher than the 4.2 trillion yuan estimated by economists and compared with a record 3.98 trillion yuan a year ago.

Chevron to exit Myanmar

• US oil major Chevron announced that it had reached an agreement to divest its assets in Myanmar to Canadian firm MTI.

• The agreement was reached one year after Chevron and other companies made the decision to depart from Myanmar following the military coup of 2021, with Chevron also publicly criticizing human rights violations taking place in the country.

Gambling's night out!

• The American Gaming Association predicts that Americans will bet approximately $16 billion on Super Bowl 57 through both lawful and unlawful channels.

• Industry market share leader FanDuel is predicting it will handle over 17 million Super Bowl bets in 2023, a more than 400% increase from 2021.

Key Economic Events

• Monday - No Major Economic News

• Tuesday - U.S. CPI YoY, Fed's Logan Speaks, Fed's Williams Speaks

• Wednesday - No Major Economic News

• Thursday - Fed's Mester Discusses The Economy, Fed's Bullard Speaks

• Friday - Fed's Barkin Discusses The US Labor Market

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