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USA: The stock market closed higher on expectations that inflation rates will drop ahead of news from the Fed on rate hikes this week. Energy, technology and the utilities sectors led advances

Asia: Asian stock markets were buoyed on Tuesday by overnight optimism on Wall Street that the U.S. Federal Reserve and other central banks would ease off on the pace at which interest rates have been hiked to tackle the highest inflation levels in decades.

India: Investors took money off the table, on Monday, ahead of India's retail inflation data for November (due later today) and the US Federal Reserve's two-day monetary policy meeting (due tomorrow). 

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

Global Economy: The British economy grew for the first time in four months in October after a September affected by the funeral of Queen Elizabeth II, but there was little sign of a sustained turn for the better as high inflation continued to take its toll. GDP rose 0.5% from September, as shops and other consumer-facing services returned to normal working hours. Construction output also grew for the fourth month in a row, by a stronger-than-expected 0.8%, and manufacturing output also performed better than expected growing 0.7%

New bank lending in China rebounded less than expected in November from the previous month, as the central bank seeks to bolster slowing growth in the world's second-biggest economy. Chinese banks extended 1.21 trillion yuan ($173.48 billion) in new yuan loans in November, nearly doubling October's 615.2 billion yuan but falling short of analysts' expectations.

Commodities: Gold prices were little changed in early Asian trade on Tuesday, as investors maintained caution ahead of U.S. inflation data and the Federal Reserve’s policy decision.

Oil prices rose for a second day on Tuesday as a key pipeline supplying the United States, the world's biggest crude consumer, remained shut and on expectations loosening COVID restrictions in China, the second-biggest user globally, will boost demand.

Currency: The dollar was firm on Tuesday leading in to the release of U.S. inflation data and the final Federal Reserve meeting of the year, with investors waiting to update interest rate outlooks.

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