Upcoming Spring Festival: Fed's inflation indicators, Berkshire 13F, and market schedules.

Berkshire Hathaway's 13F Filing and Market Insights

Upcoming 13F Filing

The deadline for investment firms to submit their 13F quarterly holdings to the SEC is next Tuesday, February 17. Berkshire Hathaway is expected to release its report on time. This filing is particularly noteworthy as it marks the last quarter under Warren Buffett's leadership as CEO. Analysts are keen to see if Berkshire has continued to reduce its stakes in Apple and Bank of America, and whether it has sold positions established by former investment chief Todd Combs.

Federal Reserve Meeting Minutes

Investors will also be closely watching the Federal Reserve's meeting minutes set to be released next Wednesday. Analysts from HSBC suggest that the minutes may provide insights into the differing views among officials regarding interest rate policies. Current market expectations fully account for a 25 basis point rate cut in July, with cumulative cuts projected to reach about 60 basis points by 2026.

Supreme Court Rulings on Tariffs

The U.S. Supreme Court has scheduled February 20 for its next ruling, with significant decisions expected on February 24 and 25. The court's ruling could potentially overturn former President Donald Trump's controversial tariff policies, which have cost importers over $16 billion monthly. A ruling against the tariffs would represent a major legal setback for Trump since his return to the political arena.

Key Economic Indicators

On February 20, the core PCE price index for December and the preliminary GDP for the fourth quarter will be released. Bloomberg Economics forecasts a 0.3% month-over-month increase in the core PCE, raising the year-over-year rate to 2.9%. Despite disruptions from the government shutdown, the fourth quarter GDP growth is expected to reach 3.0%, surpassing the market's 2.8% expectation.

AI Developments and Upcoming Events

Chinese AI Industry Releases

During the upcoming Chinese New Year, major AI models are set to be released, including those from ByteDance, Alibaba, and Zhiyuan (02513.HK). DeepSeek's V4, expected mid-February, aims to enhance programming capabilities and is anticipated to outperform leading models like Anthropic's Claude and OpenAI's GPT series.

AI Summit in India

From February 15 to 20, the first AI summit in India will take place in New Delhi, featuring global tech leaders such as NVIDIA's CEO Jensen Huang and Google's CEO Sundar Pichai. OpenAI's CEO Sam Altman is also expected to visit India, planning several closed-door meetings.

Market Schedule and Earnings Reports

Earnings Calendar

The earnings season continues with several key reports due next week. Notable companies reporting include:

• Before Market Open: Energy Transfer (ET), Leidos (LDOS), Medtronic (MDT)
• After Market Close: Amrize (AMRZ), Cadence Design Systems (CDNS), Palo Alto Networks (PANW), Quantum (QMCO)

Market Closures

Hong Kong markets will close early, while U.S. markets will be closed for Presidents' Day.