MORNING BID-Bulls charging into December

A look at the day ahead from Sujata Rao and Stefano Rebaudo.

After the best November ever, world stocks are heading into the last month of the year in an upbeat mood, with Asian bourses adding more than 1% and higher European and U.S. futures. BofA's mid-month survey had revealed a lot of cash on fund managers' books; clearly some is being deployed.

Especially so, now given brighter signals on the growth front: China's Caixin survey showed factory activity accelerated at the fastest pace in a decade. That comes on top of official figures revealing activity growing the fastest in three years.

Japanese factory activity moved closer to stabilisation too, coming in at a forecast-beating 49. But recovery remains patchy. India's recovery faltered for instance, prompting firms to cut jobs for the eighth month straight.

Meanwhile, U.S. manufacturing is weakening, surveys suggested on Monday so all eyes will be on the Institute for Supply Management poll which is predicted to slow to 58 versus last month's 59.3.

Fed chair Jerome Powell is to testify to Congress today but in published comments, he highlighted the extraordinary uncertainty overhanging the outlook -- lets not forget lawmakers have 10 days to avert a government shutdown, similar to what happened in Dec 2018.

Some job reshuffles at the top echelons of Italy's UniCredit . Its CEO Jean Pierre Mustier will step down next April after clashing with the board over strategy. It also named outgoing Lloyds CEO António Horta-Osório as its next chairman

In other company news, Bayer announced a placement of Elanco shares for $1.6 billion. The company's proposed $648 million to settle class-action litigation in the United States has been rejected by a federal judge.

Here is what markets will look at on Tuesday:

* Fed officials Brainard, Daly and Evans speak; Powell testifies to Congress

* Australia central bank left policy on hold

* OPEC is to reconvene on Thursday; oil prices down

* German unemployment, final PMIs

* US ISM manufacturing

(Reporting by Sujata Rao and Stefano Rebaudo)