Stock futures surge with focus on U.S. presidential election

After Wall Street recorded its steepest weekly loss since March last week, U.S. stock index futures bounced on Monday as investors geared up for an event-packed week starting with the U.S. presidential election.

Reuters:

Market participants anticipate short-term trading turmoil and major long-term policy shifts related to taxes, government spending, trade and regulation depending on whether President Donald Trump or his Democratic challenger Joe Biden wins the White House race… Analysts said the outcome most likely to shake markets in the near term would be no immediate outcome at all on Tuesday night.

Focus this week will also be on the Federal Reserve’s two-day policy meeting, the monthly jobs report and earnings from about a quarter of the S&P 500 companies…

At 06:30 a.m. ET, Dow E-minis were up 477 points, or 1.81% and S&P E-minis rose 55.5 points or 1.55%. Nasdaq 100 E-minis were up 135.25 points, or 1.23%. Apple Inc, Facebook Inc and Amazon.com Inc rose between 1% and 1.7% in premarket trading after falling sharply in the previous session.

MacDailyNews Take: Ahead of the U.S. presidential election, Apple is up very slightly currently in pre-market trading ($0.19, or +0.17%), but green is nonetheless a good start to the week.