US pre-open: Futures trade higher as America gets set to vote

4th Nov 2024 12:21

(Sharecast News) - Wall Street futures were in the green ahead of the bell on Monday as Americans get set to head to the polls in a little over 24 hours.

As of 1220 GMT, Dow Jones futures were up 0.09%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.18% and 0.13% firmer, respectively.

The Dow closed 288.72 points higher on Friday after last month's nonfarm payrolls report came in well and truly short of expectations.

This week's primary focus will likely be Tuesday's election results, with pundits branding it a "deadlocked race" between former president Donald Trump and vice president Kamala Harris. Congress will also draw an amount of investor attention, with a Republican or Democratic sweep of both the Senate and the House of Representatives likely meaning fresh spending plans or a tax overhaul would be put in place.

Later in the week, the Federal Open Markets Committee will meet for its two-day policy meeting on Wednesday and Thursday, with economists widely expecting to see the central bank cut its benchmark interest rate again. Comments from chairman Jerome Powell will also be firmly in focus.

In the corporate space, Super Micro Computer, Moderna, CVS Health, Qualcomm and Wynn Resorts will all report earnings before the week is out.

Reporting by Iain Gilbert at Sharecast.com