US equity futures registered modest gains before Tuesday's opening bell amid tense trading as investors remain on edge ahead of the upcoming presidential election outcomes. Futures for the Dow Jones Industrial Average saw a slight 0.1% increase, while S&P 500 futures rose by 0.2%, and Nasdaq futures climbed 0.4%.
Market participants are eagerly awaiting the outcome of the closely watched contest between former President Donald Trump and current Vice President Kamala Harris. In the oil markets, prices observed an uptick, with front-month global benchmark North Sea Brent crude oil rising 0.5% to $75.47 per barrel, while US West Texas Intermediate crude climbed 0.6% to $71.89 per barrel. In US economic news, trade data released at 8:30 am ET revealed that the trade deficit expanded to $84.36 billion in September, a notable rise from $70.79 billion in the previous month, aligning closely with estimates from Bloomberg that predicted a deficit of $84.0 billion. The Institute for Supply Management's Non-Manufacturing Purchasing Managers' Index, scheduled for release at 10 am ET, is projected to register at 53.8 in October, down from 54.9 in the prior month. Globally, stock markets reflected varied performances; Japan's Nikkei Index wrapped up 1.1% higher, while Hong Kong's Hang Seng index increased by 2.1%.
Additionally, China's Shanghai Composite made notable gains of 2.3%. Conversely, the UK's FTSE 100 index declined by 0.2%, and Germany's DAX index posted a modest gain of 0.3% during Europe's early afternoon trading. In the equities sector, shares of DuPont de Nemours ($DD) rose 2% in pre-market trading after the company announced an increase in Q3 adjusted earnings and sales, coupled with an improved profit outlook for 2024.
Meanwhile, QuinStreet ($QNST) shares surged by 33% after the company disclosed stronger fiscal Q1 adjusted profit driven by higher revenue. On the downside, shares of Celanese ($CE) plummeted by 20% following a report of decreased Q3 adjusted earnings and sales. Lattice Semiconductor ($LSCC) shares fell 10% after revealing lower Q3 adjusted earnings and revenue figures from the previous fiscal period..