Election Anticipation Jolts Global Markets

U.S. stock futures rose as markets brace for a heated week with the presidential election and potential Federal Reserve rate cuts. Kamala Harris leads in an Iowa poll, impacting market dynamics. The election result may influence market volatility, while the Fed rate decision looms large.

Futures linked to U.S. stock indexes inched upwards on Monday, kicking off a tumultuous week for global markets as Americans prepare to cast their votes in the presidential election. Concurrently, the Federal Reserve is expected to make a decision on additional cuts to its benchmark policy rate.

In Iowa, a new poll indicates a lead for Democratic candidate Kamala Harris over Republican candidate Donald Trump, impacting bond yields, the dollar, and bitcoin. Stocks linked to the former president's campaign saw premarket declines, including Trump Media & Technology Group and Phunware, both experiencing notable losses.

The presidential race winner might remain undecided for days, likely causing erratic market behavior. The CBOE's VIX, a volatility measure, trades higher than its 30-day moving average. Looking ahead, investors anticipate a Federal Reserve interest-rate decision, vital earnings reports, and further market shifts influenced by ongoing electoral developments.

(With inputs from agencies.)