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Market Review US:

US stocks closed slightly lower after a choppy session on Monday, as investors prepared for a crucial week in which Americans will elect a new president and the Federal Reserve will announce its policy statement.

Asia:

Most markets in Asia–Pacific were trading lower in early trade on Tuesday, due to caution before US elections, scheduled for later today.

India:

Indian markets declined on November 4 due to sustained foreign investor selling and weaker-than-expected September quarter earnings. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global Economy:

The US economy has witnessed a slight improvement as the latest data on Factory Orders shows a lessthan-anticipated decrease.The actual decline of 0.5% compares favorably to the forecasted figure. Economists had predicted a drop of 0.4%, indicating a more significant contraction in the manufacturing sector. However, the actual data shows a modest recovery, suggesting that the situation may not be as dire as initially thought. China’s services activity expanded at the fastest pace in three months in October, helped by early signs that Beijing’s big stimulus push was helping improve business conditions. The Caixin/S&P Global services purchasing managers’ index (PMI) grew to 52 in October from 50.3 in the previous month. The 50- mark separates expansion from contraction on a monthly basis.

Commodities:

Oil prices eased slightly on Tuesday as markets braced for uncertainties from the U.S. presidential election, after rising more than 2% in the past session as OPEC+ delayed plans to hike production in December and eased supply concerns. Gold was little changed on Tuesday as investors refrained from taking big bets ahead of the U.S. presidential election, with the Federal Reserve policy meeting due later this week also in focus.

Currency:

The dollar started Tuesday on the defensive as traders squared positions on the day of the U.S. presidential election, after recent polls dented some of the market bets on a victory for Republican Donald Trump.

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