Asian Markets Mixed Amid Weaker US Economic Report

The Asian markets were mixed on Monday as investors reacted to the weaker-than-expected US economic report. The Nikkei 225 index in Tokyo gained 0.7% after the Japanese government reported a slight increase in economic growth, while the Shanghai Composite index rose 1.4%. In contrast, Australia's S&P/ASX 200 slipped 0.5%. Oil prices also declined, with Brent crude falling 0.3% to $88.24 per barrel and US benchmark crude slipping 0.9% to $81.65 per barrel.

The mixed performance in Asia came after a weaker-than-expected report on the US economy, which led to a dip in U.S. stocks from their all-time high. The S&P 500 fell 0.2% following the report, and the Dow industrials dipped 0.2%. The Nasdaq composite shed 0.3%.

Investors are closely watching the upcoming earnings reports from major retailers such as Home Depot, Target, Lowes, and Walmart, which will provide more insight into how businesses and consumers are handling high inflation. The Federal Reserve's interest rate policy is also under scrutiny, with the central bank set to release minutes from its July meeting on Wednesday.