Stock futures rise slightly Tuesday evening as traders monitor election results: Live updates

Published On Nov 5, 2024, 6:01 PM

Stock futures have seen a slight rise as investors prepare for the results of a contentious U.S. presidential election, with major implications for the market. A Trump victory is predicted to boost the S&P 500 by about 3%, while a Harris victory could result in a 1.5% drop. The upcoming Fed rate decision also looms, with expectations of a quarter-point cut. Tech stocks are experiencing declines after disappointing quarterly reports from Super Micro and Lumen Technologies, among others.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

Given the implications of a Trump victory and tax cuts on corporate profits, I foresee significant upward pressure on stocks, particularly ETFs or stocks that are bullish on U.S. markets.

SMCIView SMCI chart on TradingView

Negative

In the tech sector, poor quarterly results are pressuring stocks, indicating risks in future earnings; Super Micro and Lumen Technologies could affect broader sector sentiment negatively.

SPYView SPY chart on TradingView

Positive

Recent performance suggests continued volatility around election implications; overall indexes like the S&P 500 seem poised for immediate gains post-election results under favorable conditions.

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