Wall Street Braces for Tech Earnings Amid Election Uncertainty

Wall Street shows signs of recovery as it anticipates significant corporate earnings and the looming U.S. presidential election. Key tech companies are set to report, with potential impacts on stock index trajectories. Meanwhile, geopolitical events and economic indicators add layers of complexity to market expectations.

Wall Street aimed for a rebound on Monday, as U.S. stock indexes looked to regain ground following a volatile trading week, driven by upcoming corporate earnings and the final stretch before the November 5 presidential election.

Futures for major indexes indicated a positive start, with the Dow E-minis climbing 143 points, the S&P 500 E-minis rising by 27.5 points, and Nasdaq 100 E-minis up by 133.25 points. The spotlight this week is on corporate earnings, with approximately 169 S&P 500 companies set to announce results. Notably, tech giants from the 'Magnificent Seven' group are among them, showing premarket gains.

Economic insights are anticipated as the release of critical data, such as the Personal Consumption Expenditures index and the nonfarm payrolls report, loom. Meanwhile, geopolitical tensions ease, affecting oil prices and market sentiment, as the Fed's potential rate decision hangs in the balance.

(With inputs from agencies.)