Before the Monday market opening, US stock benchmarks were displaying positive trends as traders positioned themselves for upcoming national elections and a significant policy decision from the Federal Reserve later this week. The Standard & Poor's 500 increased by 0.2% in premarket activities. Meanwhile, both the Dow Jones Industrial Average and the Nasdaq experienced a modest rise of 0.1%.
Asian exchanges were mostly on an upward trend, while European markets were also showing gains by midday in the region. The highly awaited US presidential elections are scheduled for this Tuesday. Beginning Wednesday, the Fed's monetary policy-setting committee will convene, with an interest rate decision anticipated on Thursday.
Furthermore, Monday's economic calendar—albeit sparse—features the factory orders report for September, set to be released at 10 am ET. Tesla shares ($TSLA) faced a 2% decrease in pre-bell trading, following reports indicating a 5.3% drop in their China-produced electric vehicle sales for October compared to the previous year.
In contrast, Nvidia ($NVDA) saw an increase of 2.2%, while Viking Therapeutics ($VKTX) surged by 13%. Several companies, including Constellation Energy ($CEG), Zoetis ($ZTS), Marriott International ($MAR), Fidelity National Information Services ($FIS), BioNTech ($BNTX), Fox ($FOXA, $FOXA), Loews ($L.US), Revvity ($RVTY), Franklin Resources ($BEN), New York Times ($NYT), Choice Hotels International (CHH), and Freshpet ($FRPT) are expected to release their latest financial results before the market opens.
Post-market, companies like Vertex Pharmaceuticals ($VRTX), Palantir Technologies ($PLTR), NXP Semiconductors ($NXPI), American International Group ($AIG), and Illumina ($ILMN) are set to announce their earnings. As for other market indicators, before the opening bell, Bitcoin slipped 0.1% to $68,720.
West Texas Intermediate crude oil rose by 3.2%, reaching $71.68 per barrel. Yields on the 10-year Treasuries fell by 8.6 basis points to 4.28%, and gold decreased slightly by 0.1% to $2,748 an ounce..