Wall Street futures have pointed moderately higher as traders digest the ongoing earnings season and anticipate national election results. The S&P 500 is up by 0.2%, while the Nasdaq has risen 0.3%, and the Dow Jones has increased by 0.1%. Palantir Technologies (PLTR) has experienced a significant increase of 13.4% in pre-bell trading, following the software developer's late Monday report of better-than-expected Q3 results and optimistic guidance, driven by robust demand for AI-related services.
Astera Labs (ALAB) saw a remarkable rise of 24.8% pre-bell after announcing positive Q3 results and a confident outlook late Monday. Century Aluminum (CENX) reported a 5.2% increase pre-bell, as the metal producer revealed its Q3 adjusted earnings were up year-over-year, surpassing expectations set by a couple of analysts polled by Capital IQ, although the company noted a decline in its Q3 sales compared to the previous year, missing some outlooks.
On the earnings front, notable blue chips including Apollo Global Management (APO), Thompson Reuters (TRI), and Emerson Electric (EMR) are set to report earnings before the market bell, along with automaker Ferrari (RACE). In Asia, exchanges traded mainly higher overnight, buoyed by a strong October service sector report from China, while European markets showed slight gains as midday approached. Today’s economic calendar includes the September international trade in goods and services bulletin at 8:30 am ET, followed by the ISM services index for October at 10 am.
In premarket action today, Bitcoin is being traded at $68,760, while West Texas Intermediate crude oil has seen an increase, trading at $71.93. Additionally, the yield on 10-year US Treasuries stands at 4.30%. Spot gold is trading at $2,737 per ounce..