Traders work on the floor of the New York Stock Exchange.
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Stock futures were flat on Tuesday morning ahead of the high-stakes US presidential election.
futures tied to Dow Jones Industrial Average Added 45 points. S&P500 futures and Nasdaq 100 futures It traded near the flatline.
Palantir Shares rose 13% in overnight trading on strong quarterly results and a positive earnings outlook. NXP Semiconductors The outlook has turned soft due to macro concerns.
Stocks ended lower on Monday as yields on safe-haven U.S. Treasuries fell. of Dow It fell more than 250 points (0.6%). of S&P500 and Nasdaq Composite Each fell about 0.3%.
The race is “close” between former President Donald Trump and Vice President Kamala Harris, according to the latest NBC News poll. Close attention will also be paid to which party controls Congress, as a Republican or Democratic majority could lead to major changes in spending and major overhauls of tax policy. are. Follow CNBC’s 2024 Election Live Blog here.
This outcome could have a big impact on how the stock ends the year, but investors may want to brace for short-term disruption. CNBC data dating back to 1980 shows that key averages rise from Election Day to the end of the year, but typically fall during the voting period and in the weeks that follow. Uncertainty about the outcome could lead to further market instability.
“Unless we get new policies from a new political administration that are likely to be more austere, the system remains positively biased,” Adam Parker, founder of Trivariate Research, said Monday on CNBC’s “Closing.” “The situation for the bulls is still intact.” Bell. “
After the election, investors are awaiting the Federal Reserve’s November interest rate decision, scheduled for Thursday, as well as new comments from Chairman Jerome Powell on the central bank’s future policy direction. According to CME Group’s FedWatch tool, traders are pricing in a 98% chance of a quarter-point cut, following September’s half-point cut.
Earnings season continues on Tuesday with the announcement of results for Super Micro Computer and Yum Brands.
