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US: The major stock market indexes all closed positive to finish out the trading day, and near the highs of the day. Investors rotated out of health care and staples stocks for more growth plays.

Asia: Shares in the Asia-Pacific were mostly lower on Tuesday following the meeting between its president Xi Jinping and U.S. President Joe Biden..

India: The key benchmark indices exhibited a tepid trading session on Monday, as global markets displayed a mixed trend after US central banker Christopher Waller cautioned against getting carried away by one inflation number.

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

Global Economy: China's industrial output rose 5.0% in October from a year earlier, slowing from the 6.3% pace seen in September, as COVID-19 restrictions weighed on factory activity.

The Japanese economy unexpectedly shrank in the third quarter, as worsening inflation levels and further depreciation in the yen severely undercut economic growth in the country. Gross domestic product (GDP) fell 0.3% in the three months to September 30, ducking expectations for growth of 0.3% and falling well below the previous quarter’s reading of 1.1%.On an annualized basis, Japanese GDP shrank 1.2%, missing expectations for growth of 1.1% and shrinking substantially from a 4.6% reading in the prior quarter.

Commodities: Gold prices hovered near three-month highs on Tuesday as mixed signals from Federal Reserve officials on the path of U.S. interest rates kept the dollar pinned to recent lows, while copper prices sank as rising COVID-19 cases in major importer China pointed to more potential demand disruption. Oil prices extended losses in early Asian trade on Tuesday after OPEC cut its 2022 global demand forecast, while rising COVID-19 case numbers in China clouded the outlook for fuel consumption in the world's top crude importing nation.

Currency: The U.S. dollar climbed versus the yen and stayed firm against other major peers on Tuesday as more Federal Reserve officials made the case for even tighter U.S. monetary policy.

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