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US: Wall Street closed sharply higher on Monday, fueled by surging technology stocks as investors began an earnings-heavy week with a renewed enthusiasm for market-leading momentum stocks that were battered last year.

Asia: Markets in the Asia-Pacific traded higher as Lunar New Year holidays were observed in most of the region

India: Indian equity benchmarks snapped two day losing streak to end half a percent higher on Monday, as upbeat operating performance by India Inc in the December 2022 quarter supported the market sentiments.

Market is expected to open gap up and likely to witness positive move during the day

Global Economy: Japan's manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in the previous month. The soft factory activity clouds policymakers' hopes that key wage talks in the months ahead will offset the squeeze to consumers from 41-year-high inflation and help sustain the fragile post-pandemic recovery. A gauge of future U.S. economic activity tumbled for a 10th straight month in December with a widespread weakening outlook for manufacturing, home building and both job and financial markets. The Conference Board on Monday said its Leading Economic Index slid 1.0% in December following a downwardly revised decline of 1.1% in November.

Commodities: Gold prices edged up on Tuesday as the dollar weakened, while investors awaited U.S. economic data amid hopes of slower interest rate hikes by the Federal Reserve. Crude oil prices rose slightly in early Asian trade on Tuesday in a market focused on prospects of demand recovery from top importer China and on the global economic outlook ahead of company earnings.

Currency: The dollar was on the back foot on Tuesday, hovering near a nine-month low to the euro and giving back recent gains against the yen, as traders continued to gauge the risks of a U.S. recession and the path for Federal Reserve policy.

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