Premarket futures were intimating a higher open for stocks in New York Tuesday, as traders heard some encouraging quarterly earnings reports and the polls opened for the U.S. presidential election.
Futures for the
were up 17 points at 987 and were 22 ahead of fair value.
futures were up 27 points at 1368 and were 32 better than fair value.
On Monday, stocks closed narrowly mixed as traders looked ahead to election day and several economic data points dampened investor enthusiasm.
Following Monday's close, credit-card company
took a net loss on charges related to its settlement of a legal scuffle with
Discover Financial Services
. Excluding the charge, however, MasterCard's earnings trumped the Street's forecasts.
reported that third-quarter profit climbed year over year and beat analyst estimates.
wasn't so fortunate, as its earnings dropped 37% year over year.
Ahead of the new day's trading,
The Wall Street Journal
reported that the Treasury Department is mulling taking equity positions in financial companies beyond banks and insurers. According to the report in the
GE Capital segment and
are among businesses that may become eligible.
Elsewhere in the financials, Swiss bank
announced it swung to a profit for the third quarter. The profitable quarter follows four straight earnings periods marked by losses on writedowns tied to mortgage securities.
Looking at the day's economic data, the Census Bureau is set to release its look at September factory orders.
In the realm of commodities, crude oil was down one cent to $63.90. Gold was adding $5.30 to $732.10.
Longer-dated U.S. Treasury securities were declining in price. The 10-year was losing 2/32 to yield 3.92%, and the 30-year was lower by 16/32, yielding 4.35%. The dollar was rising vs. the yen and pound but declining against the euro.
Overseas, European exchanges, including the FTSE in London and the Dax in Frankfurt, were broadly trading higher. As for Asian stocks, Japan's Nikkei and Hong Kong's Hang Seng closed higher.