US equity futures experienced modest increases prior to Tuesday's market opening, reflecting a cautious atmosphere as investors await results from the crucial presidential election. The Dow Jones Industrial Average futures rose by 0.1%, S&P 500 futures climbed 0.2%, and Nasdaq futures were up 0.4%. Investors are eagerly anticipating the outcome of the high-stakes contest between former President Donald Trump and current Vice President Kamala Harris. In the commodities market, oil prices also saw an uptick, with front-month global benchmark North Sea Brent crude increasing by 0.5% to $75.47 per barrel, while US West Texas Intermediate crude gained 0.6%, priced at $71.89 per barrel. Data released at 8:30 am ET revealed that the US trade deficit widened to $84.36 billion in September compared to $70.79 billion in the preceding month.
This figure was in line with estimates compiled by Bloomberg, which predicted a trade deficit of $84.0 billion. The Institute for Supply Management's Non-Manufacturing Purchasing Managers' Index, which is set to be released at 10 am ET, is projected to be 53.8 for October, a decline from the previous month's reading of 54.9. Looking at global markets, Japan's Nikkei closed 1.1% higher, Hong Kong's Hang Seng finished 2.1% higher, and China's Shanghai Composite saw an increase of 2.3%.
Conversely, the UK's FTSE 100 dipped by 0.2%, while Germany's DAX index edged up by 0.3% during Europe's early afternoon trading. In terms of individual equities, shares of DuPont de Nemours ($DD) rose by 2% in pre-market trading following the company’s announcement of increased Q3 adjusted earnings and sales, alongside an optimistic 2024 profit outlook.
QuinStreet ($QNST) saw a remarkable 33% surge in its share price after reporting fiscal Q1 adjusted profit bolstered by heightened revenue. On the downside, Celanese ($CE) shares plummeted by 20% subsequent to the company's disclosure of lower Q3 adjusted earnings and sales. Likewise, Lattice Semiconductor ($LSCC) shares fell by 10% after reporting decreased Q3 adjusted earnings and revenue..