Source: Sharecast
As of 1200 GMT, Dow Jones futures were up 0.60%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.53% and 0.84% firmer, respectively.
The Dow closed 572.25 points lower on Friday, while the Nasdaq sunk to a three-month low as a dramatic tech sell-off weighed heavily on market sentiment.
As for Monday, traders were looking ahead to tomorrow's midterm elections, with polling indicating a sharp swing towards the Democrats as Donald Trump's approval rating hitting its lowest level for any sitting president heading into a midterm since Harry Truman.
Democrats have been projected to win by a wide margin and could potentially flip the Senate and secure a sizeable majority in Congress, which would materially strengthen oversight of Trump-era policies ranging from immigration enforcement and trade disputes to federal workforce cuts and the Iran conflict.
In the corporate space, Estée Lauder posted a stronger‑than‑expected first quarter performance ahead of the open on Monday, with earnings per share coming in at $0.72, comfortably ahead of the $0.51 forecast by analysts. Revenues of $3.72bn also topped consensus estimates of $3.64bn, as the beauty group continued to benefit from improving demand across key markets.
Elsewhere, Loews delivered a third‑quarter earnings beat, despite lower year‑on‑year profits, with the firm reporting adjusted EPS of $1.50, down from $2.43 a year earlier, on $4.76bn of revenue, slightly higher than the $4.67bn posted twelve months ago. Net income attributable to Loews fell to $306m from $504m, with the decline driven by a $125m after‑tax charge at CNA Financial linked to long‑term care reserve updates, alongside higher catastrophe losses and softer property and casualty underwriting.
Still to come, Apple and Palantir were both slated to report quarterly earnings figures after the close.
On the macro front, October's S&P Global manufacturing PMI will be published at 1445 GMT, while the Institute for Supply Management's October manufacturing PMI will follow at 1500 GMT, as will September construction spending figures.
Reporting by Iain Gilbert at Sharecast.com