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· 20 U.S. market strategists reveal their 2021 predictions for the S&P 500

A narrow majority of market strategists surveyed by CNBC predict that U.S. stocks will continue to rally into 2021, with the S&P 500 rising between 8% and 22% next year from their current levels.

Twelve of 20 market strategists from major U.S.-based financial institutions who were polled by CNBC International predicted the S&P would rise to between 4,000 and 4,500 next year. The index finished Monday’s session 3,691.96, just below its 2020 closing high.

But most analysts remain optimistic about the overall markets picture next year.

“We believe that as we head into 2021, the broader story will continue to be the true “reopening” of the economy in the U.S. and globally, driven by the distribution of vaccines and increase in global economic activity,” said an analyst.

“In the scenario that we do see growth and earnings rebound in 2021, while rates remain low and fiscal stimulus is added to the system ... this is a favorable backdrop for risk assets broadly,” that analyst continued.

· Asian stocks dip as pandemic concerns overshadow U.S. stimulus hopes

Asian stocks came under pressure on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with fresh concerns about a surge in COVID-19 infections.

Mixed Asian trade followed a similarly mixed Wall Street session in which the tech-heavy Nasdaq Composite closed at a record high while the two other major U.S. indices fell.

MSCI’s broadest index of Asia-Pacific shares outside Japan narrowed its losses from early trade, but was still down 0.02% as anxiety over the coronavirus pandemic capped sentiment.

· Japan shares slip for third day; all eyes on U.S. stimulus debate

Japanese shares ended lower for the third straight session on Tuesday, as a month-long rally ran out of gas, with investors awaiting U.S. lawmakers’ decision on a fresh COVID-19 pandemic relief package.

The Nikkei share average lost 0.30% to close at 26,467.08. The broader Topix shed 0.11% to 1,758.81, after touching its lowest since Nov. 20 earlier in the session.

The U.S. Congress will vote this week on a one-week stopgap funding bill to provide more time for lawmakers to reach a deal on coronavirus relief and an overarching spending bill to avoid a government shutdown.

Japan will compile a fresh 73.6 trillion yen ($708 billion) economic stimulus package to speed up the country’s recovery from its deep coronavirus slump, Prime Minister Yoshihide Suga said.

Overall sentiment remained upbeat as investors expect the global economic recovery to continue, with COVID-19 vaccines look set to be rolled out soon and stimulate consumption worldwide.

· China stocks extend retreat as Sino-U.S. tensions weigh

China shares closed lower for a second straight session on Tuesday as Sino-U.S. tensions weighed on the market, with financial and transport stocks leading the decline.

The blue-chip CSI300 index fell 0.3% to 5,009.88, while the Shanghai Composite Index slipped 0.2% to 3,410.18.

Among sectors, the CSI300 financials and the transport indexes both closed down 0.7%.