A look at the day ahead in Asian markets from Lewis Krauskopf, U.S. markets correspondent

Markets face a question heading into Tuesday’s action — will the U.S. inflation report spoil the mood?

Asian investors are waking up to another upbeat session in global stock markets. Wall Street’s major averages continued to push higher, with the tech-heavy Nasdaq ending up well over 1%. The gains come after the benchmark S&P 500 last week registered a 20% rise off its October low, which by some definitions confirmed a bull market.

Japan’s Nikkei also rose on Monday, closing in on the 33-year peak it reached last week, while European equity benchmarks built on their year-to-date gains.

Tuesday brings data that could cause some investor anxiety. The monthly U.S. consumer price index report is expected to show the country’s inflation rate slowing from 4.9% annually to 4.1%. CPI has been a fixation for markets after it soared to 40-year highs last year, prompting aggressive monetary tightening.

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