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U.S. stock futures signal gains ahead of election
November 6, 2012 / 9:54 AM / 5 years ago

U.S. stock futures signal gains ahead of election

PARIS, Nov 6 (Reuters) - U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with the S&P 500 , Dow Jones and Nasdaq 100 indicated up 0.2 percent at 0930 GMT.

* European shares and the dollar steadied as investors awaited news on the U.S. election, while uncertainty over Greece’s next aid payment kept the euro at a two-month low.

* Polls showed President Barack Obama and Republican challenger Mitt Romney deadlocked in a race that will be decided in a handful of states.

* The balance of power in the U.S. Congress will also be at stake in Senate and House of Representatives races that will impact the outcome of “fiscal cliff” talks on $600 billion in spending cuts and tax increases.

They are set to be automatically triggered at the end of the year unless a deal is reached.

* NYSE Euronext will be in the spotlight after the world’s largest stock exchange operator reported net revenue down 21 percent to $559 million for the third quarter, citing weaker trading.

* Carmakers will be in focus after Nissan Motor Co cut its full-year net profit forecast by 20 percent.

* Qatar and the United Arab Emirates have requested the sale of up to $7.6 billion in Lockheed Martin Corp missile-defense systems to counter perceived threats and lower their dependence on U.S forces, the Pentagon announced on Monday.

* The U.S. Federal Reserve’s unconventional monetary policies have lowered borrowing costs and boosted growth without creating unwanted inflation, a top Fed official said on Monday, predicting the Fed’s latest round of asset-buying will exceed $600 billion.

* Children’s toymaker LeapFrog Enterprises Inc raised its full-year forecast and said it will increase its advertising spending to attract more shoppers during the holiday season.

* U.S. pharmacy benefits manager Express Scripts Holding Co said analyst forecasts for its 2013 results were too aggressive, casting doubt on how well it is integrating its $29 billion purchase of Medco Health Solutions Inc and sending its shares down 14 percent.

* Real estate website Zillow Inc forecast fourth-quarter revenue below analysts’ estimates after it lost one of its larger advertisers,, sending the company’s shares down 25 percent in after-market trading.

* On the earnings front, investors awaited results from a number of companies including Cablevision, CVS Caremark Corp and News Corp.

* U.S. stocks advanced modestly on Monday in light trading in one of the year’s quietest sessions on the day before the U.S. presidential election.

* The Dow Jones industrial average advanced 19.28 points, or 0.15 percent, to end at 13,112.44. The Standard & Poor’s 500 Index rose 3.06 points, or 0.22 percent, to 1,417.26. The Nasdaq Composite Index gained 17.53 points, or 0.59 percent, to close at 2,999.66.

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