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| US Market |
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| NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | |
| The major U.S. index futures are pointing to a modestly lower opening on Tuesday following the rally seen in the previous session. Traders may cash in on yesterday's gains, but trading activity is likely to be subdued as traders await the results of the U.S. presidential election.
The race between Democratic nominee Hillary Clinton and Republican rival Donald Trump has been among the most the divisive in history and the outcome could have a significant impact on economic policy.
As voters head to the polls, a RealClearPolitics average of recent national polls showed Clinton with a 46.8 percent to 43.6 percent lead over Trump. However, the national poll numbers may not be indicative of the final result, which will likely come down to several key swing states due to the Electoral College system.
After showing a significant move to the downside last week, stocks moved sharply higher over the course of the trading session on Monday. With the strong upward move, the major averages regained ground after ending last Friday's trading at their lowest closing levels in about four months.
The major averages ended the day just off their highs of the session. The Dow jumped 371.32 points or 2.1 percent to 18,259.60, the Nasdaq soared 119.80 points or 2.4 percent to 5,166.17 and the S&P 500 surged up 46.34 points or 2.2 percent to 2,131.52.
The rebound on Wall Street came on the heels of news the FBI has once again cleared Democratic presidential nominee Hillary Clinton of criminal charges related to her use of a private email server while Secretary of State.
Most of the major sectors moved higher amid the broad based rally on Wall Street, although substantial strength was visible among electronic storage stocks. The NYSE Arca Disk Drive Index jumped 5.3 percent after ending the previous session at a four-month closing low.
Datalink (DTLK) led the storage sector higher after the company agreed to be acquired by Insight Enterprises (NSIT) in a deal valued at approximately $258 million.
Steel, biotechnology, transportation, semiconductor, and banking stocks also saw significant strength, reflecting the broad based buying interest.
Meanwhile, gold stocks were among the few sectors to buck the uptrend, dragging the NYSE Arca Gold Bugs Index down by 4 percent. The weakness in the sector came amid a steep drop by the price of gold. |
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| US Economic Reports |
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| CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
| Amid a quiet day on the U.S. economic front, traders may keep an eye on remarks by Chicago Federal Reserve President Charles Evans.
Evans is scheduled to speak at the UBS Knowledge Network event "Luncheon Discussion with Charles Evans" followed by a Q&A in New York at 12:20 pm ET.
At 1 pm ET, the Treasury Department is scheduled to announce the results of its auction of $24 billion worth of three-year notes. |
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| Stocks in Focus |
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| FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | |
| Shares of Hertz Global (HTZ) are likely to come under pressure in early trading after the rental car company reported weaker than expected third quarter results and lowered its full-year guidance.
Drugstore operator CVS Health (CVS) may also move to the downside after reporting cutting its full-year profit forecast. The company reported better than expected third quarter earnings but on revenues that missed estimates.
Shares of Priceline (PCLN) are likely to see early strength after the travel services company reported third quarter result that exceeded expectations.
Hotel operator Marriott International (MAR) reported third quarter earnings that came in above analyst estimates but on weaker than expected revenues.
Priceline (PCLN) reported third quarter earnings and revenues that beat expectations, although its fourth quarter earnings guidance came in below the consensus estimate.
Sherwin-Williams (SHW) announced the retirement of Christopher Connor as executive chairman, effective December 31, 2016. The company's board elected president and CEO John Morikis to assume the additional role of chairman. |
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| European Markets |
| European stocks are turning in a lackluster performance as traders await the results of the U.S. elections. While the U.K.'s FTSE 100 Index is just above the unchanged line, the French CAC 40 Index and the German DAX Index are both down by 0.1 percent.
In corporate news, shares of Associated British Foods have moved higher after the company reported a rise in full year revenue and said it expects continued profit growth in its current financial year despite a weaker British currency hurting margins at its U.K. stores.
Cr?dit Agricole has also rallied after its third-quarter profit doubled, lifted by fixed-income revenue and the sale of its holding in the group's regional lenders. German mail and logistics group Deutsche Post reported a jump in third quarter profits and reaffirmed its full-year outlook.
Meanwhile, ArcelorMittal has come under pressure after the integrated steel and mining company cautioned of a weak fourth quarter after reporting third-quarter core profit below expectations.
On the economic front, German industrial output declined at a faster-than-expected pace in September after rebounding in the previous month, data from Destatis showed.
U.K. industrial output fell 0.4 percent month-on-month in September, the same pace of decline as seen in August, while the French trade deficit widened to 4.77 billion euros in September from 3.67 billion euros in the same month last year. |
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| Asian markets |
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| USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
| Asian stocks inched higher on Tuesday, although underlying sentiment remained cautious ahead of the U.S. presidential election.
China's Shanghai Composite Index climbed 14.55 points or 0.46 percent to end at 3,147.89, as investors shrugged off data showing the country's exports fell for a seventh consecutive month in October. Hong Kong's Hang Seng Index rose 108.07 points or 0.47 percent to 22,909.47.
Chinese exports fell 7.3 percent year-over-year in dollar terms in October, exceeding economists' expectations for a decrease of 6.0 percent. Imports dropped 1.4 percent from a year ago versus the 1.0 percent decrease expected by economists.
Japanese shares ended a choppy session flat as investors moved to the sidelines before the U.S. elections. The Nikkei 225 Index swung between gains and losses before closing 5.83 points or 0.03 percent lower at 17,171.38. The broader Topix index closed up 0.05 percent at 1,363.49.
Automakers Honda, Mazda and Toyota gained about 1 percent each as the greenback held steady against the yen. Nikon rose 1.3 percent on a Nikkei report that it plans to eliminate about 1,000 jobs in Japan. Toyota Motor today lifted its profit forecast for the fiscal year despite reporting another sharp decline in second-quarter net profit.
Nissan Motor added 0.7 percent after maintaining its full-year sales guidance. Mobile carrier Softbank Corp advanced 1.2 percent despite announcing a $550 million write down on its Indian investment.
Australian shares extended gains for a second consecutive session despite mixed readings on business and consumer confidence. The benchmark S&P/ASX 200 inched up 7 points or 0.13 percent to 5,257.80, while the broader All Ordinaries Index closed 11.30 points or 0.21 percent higher at 5,342.20. |
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| Currency and Commodities Markets |
| Crude oil futures for December delivery are slipping $0.08 to $44.81 a barrel after climbing $0.82 to $44.89 a barrel on Monday. Gold futures are trading currently at $1,280.40 an ounce, up $1 from the previous session's close of $1,279.40 an ounce. On Monday, gold plunged $25.10.
On the currency front, the U.S. dollar is trading at 104.74 yen compared to the 104.46 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.1046 compared to yesterday's $1.1041. |
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