Stocks – U.S. Futures Fall as Investors Wait for Election Results

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Stocks - U.S. Futures Fall as Investors Wait for Election Results

Investing.com – U.S. futures were lower on Tuesday, as investors wait to see which party will gain control of Congress during midterm elections.

The S&P 500 futures fell 4 points or 0.16% to 2,735.0 as of 6:50 AM ET (11:50 GMT) while Dow futures were down 37 points, or 0.15%, to 25,404.0. Meanwhile tech heavy Nasdaq 100 futures decreased 17 points, or 0.25%, to 6,932.0.

Midterm election polling booths open on Tuesday. Opinion polls show that the Democratic Party could win control of the House of Representatives, while the Republican Party is likely to hold onto the Senate. Preliminary results are expected during U.S. evening hours, with final results in the early morning on Wednesday.

Meanwhile, earnings season continues, with results from Etsy Inc (NASDAQ:ETSY), Papa John’s International Inc (NASDAQ:PZZA),The Wendy’s Co (NASDAQ:WEN), Planet Fitness Inc (NYSE:PLNT), and others.

General Electric (NYSE:GE) was among the top gainers in pre-market trading, rising 0.22% after its CEO bought $2.2 million worth of company stock last week. Payment processor Square Inc (NYSE:SQ) gained 1.79% while Boeing (NYSE:BA) was up 0.83%.

Elsewhere, Microsoft (NASDAQ:MSFT) fell 0.47% while Netflix (NASDAQ:NFLX) was down 0.77%. Tesla (NASDAQ:TSLA) slipped 0.85% after a report from the Center for Investigative Reporting claims its Fremont factory medical clinic urged injured workers to take Lyft to a hospital and denied use of certain medical equipment that would require an injury report.

On the data front, JOLTs jobs numbers are released at 10:00 AM ET (15:00 GMT).

In commodities, gold futures rose 0.55% to $1,236.60 a troy ounce while crude oil futures decreased 0.38% to $62.86 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, rallied 0.16% to 96.43.

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