Updated from 6:55 a.m. EST

P/>A day before the U.S. elects a new president, premarket futures were suggesting a moderately lower open Monday as traders digested news of several merger setbacks prepared for another week full of quarterly

earnings statements

and turned their eyes toward Tuesday's

presidential election

.

Futures for the

S&P 500

were down 3.7 points at 963.6 and were 3.8 points short of fair value.

Nasdaq

futures were higher by 12.3 points at 1335 and were 1.9 points below fair value.

Looking through corporate headlines,

The Wall Street Journal

reported that as many as 1,800 public companies could be signing up for investments by the

Treasury Department

under the

Troubled Asset Relief Program

.

Meanwhile, leveraged-buyout firm

Kohlberg Kravis & Roberts

was delaying plans to come public as the credit crisis hurt its capitalization standing. KKR said in a statement it would hold off on buying Amsterdam-listed

KKR Private Equity

until next year.

In other merger news,

The Detroit News

reported that

Cerberus Capital

, which owns

Chrysler

, has ceased discussions with

Nissan-Renault

because Cerberus intends on merging with

General Motors

(GM) - Get Report

.

Agricultural products maker

Monsanto

(MON)

announced its intent to buy Brazilian firm

Aly Participacoes

for $290 million.

Soft-drink maker

PepsiCo

(PEP) - Get Report

announced it would invest $1 billion in China over the next four years in an effort to gain a foothold in emerging markets.

Airplane manufacturer

Boeing

(BA) - Get Report

announced that a strike by the International Association of Machinists had ended after the company and union signed a four-year contract.

As for earnings, insurer

PMI Group

(PMI)

reported a wider third-quarter loss, and

Goodyear Tire

(GT) - Get Report

announced a decline in quarterly profit.

In terms of economic data, the census bureau is set to release its construction spending figures for September. Also due out is the Institute for Supply Management's October manufacturing index.

The European Commission also reported that Europe is probably in a recession and will continue to struggle through the next year.

Shifting to commodities, crude oil was losing $1.16 to $66.65 a barrel. Gold was climbing $12.30 to $730.50 an ounce.

Longer-dated U.S. Treasury securities were mixed. The 10-year was up 11/32, yielding 3.92%. The 30-year was dropping 14/32 to yield 4.36%. The dollar was falling vs. the yen and euro but gaining on the pound.

Credit markets were loosening. Three-month dollar Libor, a measure of the rate banks charge one another for large loans, was down 17 basis points to 2.86%. Overnight Libor slipped 2 basis points to 0.39%.

Abroad, European exchanges, including the FTSE in London and the DAX in Frankfurt, were mostly trading higher. In

Asia

, Japan's Nikkei was closed for a holiday, while Hong Kong's Hang Seng finished on the upside.

(

Photo gallery: Trading Faces

)