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Election Day has finally come, and the choice between Vice President Kamala Harris and former President Donald Trump is set to take center stage for traders over another handful of earnings and an imminent Federal Reserve interest-rate decision.
Futures for the Dow Jones Industrial Average added 57 points, or 0.1%. S&P 500 futures were up 0.2%, and Nasdaq 100 futures were rising 0.3%. All three indexes closed down on Monday.
While there won’t be clear signs of a winner until Tuesday evening or Wednesday, investors may still spend the day wondering how the outcome will affect their portfolios. Earnings highlights for Tuesday include Super Micro Computer, Devon Energy, Yum! Brands, and Ferrari. The Fed will also announce its next move on rates on Thursday.
“All eyes are on the U.S. elections and until the results are in we expect little impact from data releases,” said ING strategist Michiel Tukker. “We must also consider a scenario where the voting results are not clear-cut and the winner is only announced later this year, leaving markets in limbo for longer.”
The yield on the benchmark 10-year Treasury note stood at 4.31% early Tuesday, slightly lower than a day ago. The two-year note yield was at 4.179%.
