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Moody's surprise withdrawal of credit ratings for 11 Chinese property and investment firms sent local and Hong Kong stock markets tumbling on Monday. Investors are now speculating about a looming financial crunch.

For another year, Walmart, the world's biggest bricks-and-mortar retailer (though with growing online operations), has again bested Amazon in the vital US retailing sector.

Brazilian miner Vale surprised investors with a fourth-quarter profit much weaker than expected, reporting a $US2.42 billion net profit, down from the $US3.72 billion reported in the final quarter of 2022—the second-biggest iron ore exporter globally after Rio Tinto.

So far this reporting season, major miners have revealed more than $US13 billion (nearly $A20 billion) in write-downs and impairments as global markets across 2023, and weak demand send prices and profits lower and upset projections for the rest of this year and 2025.

This week, roughly 40 reports are expected from the ASX 200 and All Ordinaries indexes, with notable mentions including Harvey Norman, Coles, and Woodside Energy.

Inflation rears its ugly head this week, just as investors, large and small, were wondering if their latest dose of AI FOMO (Fear of Missing out) over chip surge, Nvidia, had gotten a little overheated.

With the Lunar New Year break over, the pain continues for China, despite the surprise rate cut last week and a solid 2.8% to 4.1% rise in the country’s stock markets.

In the week ahead, markets face a significant test, with a crucial inflation reading and the second estimate of US 4th quarter economic growth challenging the prevailing confidence in lower interest rates. Despite Wall Street's obsession with AI advancements and the soaring fortunes of companies like Nvidia, the looming prospect of rate cuts from the Fed remains a potent factor, ready to disrupt the market if data disappoints.

Amidst the frenzy surrounding Nvidia's meteoric rise, questions arise about its impact on commodity markets. Investor attention diverted from metals and softs, leaving them vulnerable to various economic factors, including American inflation data, weak sentiment, US bond yields, and the trajectory of the US dollar.

Warren Buffett is correct in advising investors to disregard Berkshire Hathaway's statutory profit figures, as they are distorted by accounting rules mandating the inclusion of unrealized gains and losses. However, recent figures from the December quarter and full 2023 demonstrate otherwise.

Japan's stock market has climbed past its all-time closing high, surpassing the record level struck during the country’s late-1980s asset bubble after a 34-year wait. The Nikkei share average rose about 2% to close at a record 39,098.68 points, above the previous intraday high of 38,957.44 points touched on the final trading day of 1989. On that day, the benchmark index closed at 38,915.87.