Wall Street futures pointed moderately higher before the market opened Tuesday as traders processed the latest earnings data and anticipated the outcome of the national elections. In the futures market, the S&P 500 rose by 0.2%, the Nasdaq increased by 0.3%, while the Dow Jones saw a modest gain of 0.1%. Palantir Technologies (PLTR) experienced a significant surge, trading up 13.4% pre-bell after the software company reported better-than-expected Q3 results on Monday evening, along with optimistic guidance, which pointed to strong demand for AI-related services. Astera Labs (ALAB) saw an impressive rise as well, trading up 24.8% pre-bell following their release of Q3 results that exceeded expectations and their positive outlook shared late Monday. Century Aluminum (CENX) reported an increase of 5.2% pre-bell after the metal producer's Q3 adjusted earnings rose year-on-year, surpassing the expectations of two analysts surveyed by Capital IQ.
However, sales for Q3 declined compared to the previous year and fell short of broader expectations. Blue chip companies such as Apollo Global Management (APO), Thompson Reuters (TRI), and Emerson Electric (EMR) are also slated to report their earnings before the market opens, along with the automaker Ferrari (RACE). Asian exchanges traded mostly higher during the overnight session following a positive October service sector report from China.
European markets showed slight gains around midday. Key indicators on the economic calendar include the September bulletin for international trade in goods and services at 8:30 am ET, followed by the ISM services index for October to be released at 10 am. In premarket action, Bitcoin was trading at $68,760, while West Texas Intermediate crude oil showed an upward trend at $71.93, and 10-year US Treasuries offered a yield of 4.30%.
Spot gold was priced at $2,737 an ounce..