1. Markets in good form despite recent events

The Dow Jones industrial average hit a record high on Monday and it could push on further today.

Investors have shrugged off a series of big political shocks in the last few weeks, and many global stock markets are in bull market territory - up 20% or more from lows set earlier in 2016.

U.S. stock futures are holding steady ahead of the opening bell.

European markets are mainly higher in early trading, though the moves are small. Asian markets ended the day with decent gains.

2. Euro close to 3-week highs

The euro was steady near three-week highs, having rebounded from 20-month lows set in the previous session after Italian voters rejected constitutional changes backed by the government and the subsequent resignation of Prime Minister Matteo Renzi.

The euro was supported by indications that Italy would not hold early elections after Renzi’s resignation, with many analysts thinking it more likely that a caretaker government will be put in place until an election next year.

Investors remained cautious ahead of the ECB’s policy meeting on Thursday.

The ECB is likely to announce an extension of its quantitative easing program, but any indication that it could begin tapering asset purchases could offset the effect of extending its stimulus program.

3. Italy bank on in crisis

Concerns persist about the ability of Italy's oldest bank to follow through on a turnaround plan and avoid a state bailout.

Shares in Banca Monte dei Paschi di Siena (BMDPF) dropped 3% Tuesday. The stock has crashed more than 85% since the start of the year.

Monte dei Paschi is trying to arrange a €5 billion ($5.4 billion) capital infusion, but political uncertainty triggered by the resignation of Italian Prime Minister Matteo Renzi has made securing the funds more difficult.

Investors are worried that a period of instability could inflict further pain on Italy's struggling economy.

Shares in other major European banks are mostly rising.

4. Economics

New numbers due Tuesday highlight two areas of focus for the new Trump administration: trade and manufacturing.

First, the Census Bureau is reporting October data on the U.S. trade deficit at 13:30GMT Then the Census Bureau will report details on new orders for manufactured goods in October at 15:00GMT.

Also to come this week:

Wednesday - Senate hearing on AT&T-Time Warner merger; GSA weighs in on Trump's hotel lease; Starbucks Investor Day; India's rate decision

Thursday - European Central Bank's monetary policy meeting

Friday - Government spending measure expires