(Bloomberg) -- Asian equities were muted at Thursday’s open after U.S. stocks closed off all-time peaks as a drop in cryptocurrency exchange Coinbase Global Inc. overshadowed strong bank earnings. Crude oil trimmed earlier gains.Shares were up slightly in Japan, little changed in South Korea and lower in Australia. U.S. contracts edged higher after a slide in technology shares pulled benchmarks off record levels. Coinbase traded down in its Nasdaq debut, and Bitcoin slid from its high. The S&P 500 Index fluctuated as traders tracked earnings from some of the world’s biggest banks, including revenue windfalls for Goldman Sachs Group Inc. and JPMorgan Chase & Co.Read: Coinbase Selloff After Trading Debut Spills Into Bitcoin RallyThe dollar was little changed after three straight days of losses. Treasuries were also steady after slipping in U.S. hours, though the benchmark 10-year yield at 1.64% remains well off its highs.Traders in Asia will focus on the People’s Bank of China’s cash injection Thursday, as a signal of whether policy makers are ready to provide fresh liquidity to ease rising concerns over tightening supply.With equities hovering around record levels, traders are watching the earnings season for further catalysts. Expectations for a strong profit rebound have buoyed indexes, setting the bar high as reporting gets underway. More broadly, investors are alert to any setbacks to the economic recovery from spikes in Covid-19 infections and troubled vaccine rollouts.“You’re going to see this tug-of-war continue within markets as investors weigh the prospects of a strengthening economy with the risk of rising inflationary pressures,” said Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors.Federal Reserve Chairman Jerome Powell reiterated the central bank’s continued support for the recovery in a speech to the Economic Club of Washington Wednesday. He also noted that a pullback in asset purchases would happen “well before” policy makers consider raising interest rates.Meanwhile, U.S. health officials wrapped up a meeting on the possible side effects of the Johnson & Johnson vaccine Wednesday without a vote, effectively extending a pause on its use.Bitcoin touched a record of $64,870 before slipping. Oil trimmed an overnight jump but remained close to $63 a barrel as shrinking crude stockpiles in the U.S. supported hopes for a global demand recovery.Some key events to watch this week:U.S. data including initial jobless claims, industrial production and retail sales come Thursday.China economic growth, industrial production and retail sales figures are on Friday.These are some of the main moves in financial markets:StocksS&P 500 futures were 0.1% higher as of 9:25 a.m. in Tokyo. The index closed down 0.4%.Japan’s Topix Index was up 0.6%.South Korea’s Kospi Index edged up 0.1%.Australia’s S&P/ASX 200 Index was down 0.4%.Hang Seng futures fell 0.5% earlier.CurrenciesThe Bloomberg Dollar Spot Index was steady.The euro was at $1.1983.The Japanese yen was up 0.1% at 108.86 per dollar.The offshore yuan was at 6.5323 per dollar.BondsThe yield on 10-year Treasuries edged up one basis point to 1.64%.Australia’s 10-year yield climbed four basis points to 1.79%.CommoditiesWest Texas Intermediate crude slipped 0.6% to $62.75 a barrel.Gold was at $1,738.69 an ounce, rising 0.1%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.