European markets head for higher open as traders focus on data, earnings

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European markets are expected to open higher on Tuesday, with investors keeping an eye on data releases and earnings reports.

The U.K.'s FTSE 100 index is slated to open 39 points higher at 8,144, Germany's DAX up 53 points at 19,227, France's CAC 24 points higher at 7,298 and Italy's FTSE MIB up 115 points at 34,002, according to data from IG.

Earnings will be coming in from Imperial Brands and Thyssenkrupp, while a finalized euro zone inflation reading for October is also due during the session. Regional markets closed lower on Monday, with investors turning their attention to regional inflation data and to Nvidia earnings due Stateside on Wednesday.

Overnight, Asia-Pacific markets traded mostly higher, as investors parsed the speech of Chinese financial policymakers at an investment summit in Hong Kong. U.S. stock futures were meanwhile higher early on Tuesday.

European markets: Here are the opening calls

European markets are expected to open higher Tuesday.

The U.K.'s FTSE 100 index is expected to open 39 points higher at 8,144, Germany's DAX up 53 points at 19,227, France's CAC up 24 points at 7,298 and Italy's FTSE MIB up 115 points at 34,002, according to data from IG.

Earnings come from Imperial Brands and Thyssenkrupp and finalized euro zone inflation data for October is due.

— Holly Ellyatt

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"India has been my most overweight country and that still remains the fact outside of the U.S.," the chief market strategist at asset management firm Raymond James Investment Management said, naming a stock that is one of his favorites.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

Fed can be 'patient' due to economic strength, CIO says

One reason the postelection rally for stocks appears to have stalled may be that investors are growing less confident in the rate cut path of the Federal Reserve.

According to the CME FedWatch Tool, trading in the fed funds futures market currently implies a 62.1% likelihood of a rate cut in December. That is down from 65.3% a week ago, and 76.8% a month ago.

Jim Baird, chief investment officer at Plante Moran Financial Advisors, said recent signs of continued strength for the economy could lead to the Fed slowing its pace of cuts.

"It is going to call into question how much more they need to cut, and how quickly. I think that's what they've really been hinting at — that they're going to be patient, they're going to be data dependent, and that could mean a slower pace of rate cuts than either their forecasts have suggested or the market was expecting," Baird said.

Baird added that the effect of the election, such as the potential for higher tariffs under President-elect Donald Trump, "exacerbate" those questions about how much the Fed will cut.

— Jesse Pound