US Futures Pause With Earnings, Election in Focus – Europe Market Wrap

As the third-quarter earnings season got underway, US equity futures swayed. Alphabet Inc., the parent company of Google, was the first of the “Magnificent Seven” big-tech titans to report later Tuesday.

Five of the seven tech megacaps that have driven this year’s rise are among the companies reporting this week, making up about 42% of the S&P 500’s market capitalisation. Along with the US presidential election, which is now only a week away, investors are also preparing for a barrage of important economic data that will influence the Federal Reserve’s next interest-rate decision.

Following Wall Street’s advances on Monday, S&P 500 futures fell, but Nasdaq 100 contracts barely moved. A measure of the dollar remained unchanged while Treasury yields slightly increased. After plunging to its lowest level in almost two years on Monday, oil prices increased as Middle East tensions subsided.