US equity markets are showing positive momentum ahead of the opening bell on Tuesday as traders shift their focus to the highly anticipated presidential elections. The Standard & Poor's 500 index saw an increase of 0.3%, the Dow Jones Industrial Average rose by 0.2%, and the Nasdaq gained 0.4% in premarket trading.
In Asia, the majority of exchanges are performing well, while midday indicators show European markets also trending upward. Significant movement in individual stocks was noted, with Palantir Technologies experiencing a remarkable 14% surge before the market opened, following the release of third-quarter results that surpassed expectations.
Boeing's shares rose nearly 2% as striking union workers voted in favor of accepting the company's latest labor agreement. Dollar Tree's stock increased by 3.8% after it was announced that Rick Dreiling will step down as chairman and CEO of the discount retailer, effective November 3. Earnings announcements were anticipated from several notable companies, including Ferrari, Apollo Global Management, Emerson Electric, Cummins, Yum! Brands, DuPont de Nemours, Restaurant Brands International, Archer-Daniels-Midland, Fortis, and Henry Schein, all set to report their latest financial results before the market opens. Following the close of the markets, earnings reports are expected from Coupang, Microchip Technology, Devon Energy, and Frontier Communications Parent. On the economic front, the international trade in goods and services report for September is anticipated to be released at 8:30 am ET, followed by the ISM Services index for October at 10 am. In premarket activity, bitcoin experienced a 1.9% increase, reaching $68,780, while West Texas Intermediate crude oil saw a slight uptick of 0.4%, trading at $71.74 per barrel.
Yields on 10-year Treasuries increased by 0.4 basis points, reaching 4.31%, and gold saw a marginal rise of 0.1%, trading at $2,750 per ounce..