### Stock Futures Dip Ahead of Crucial U.S. Presidential Election

In a tense prelude to Tuesday's U.S. presidential election, stock futures edged lower during overnight trading on Sunday. Futures tied to the Dow Jones Industrial Average fell by 130 points, or 0.3%, while S&P 500 futures saw a decline of 0.25%. Similarly, Nasdaq-100 futures also dipped by 0.3%.

The markets had kicked off November with solid gains, bolstered by robust performances from Amazon and other major technology companies. The Nasdaq Composite and S&P 500 advanced by 0.8% and 0.4%, respectively, while the Dow Jones Industrial Average added nearly 289 points, roughly a 0.7% increase.

Tuesday's election results may significantly influence the market's trajectory for the remainder of the year. According to the latest NBC News poll, the race between former President Donald Trump and Vice President Kamala Harris is tightly contested. Crucially, market movements could be more affected by which party gains control of Congress. A split control would likely maintain the status quo, whereas a single-party sweep could bring new spending initiatives or tax reforms, especially if accompanied by a party-aligned White House victory.

Some experts view the election as a critical hurdle that the market needs to clear in order to rally towards year-end. Sam Stovall from CFRA Research cites historical data indicating that strong market performances in election years often lead to additional gains in November and December. "I think we have some volatility into next week," Stovall told CNBC's "Closing Bell." "But I think that once we get through it, we rally in November and December."

In addition to the election, Wall Street is also anticipating the Federal Reserve's latest rate decision. Traders are overwhelmingly expecting a rate cut, with CME Group's FedWatch tool indicating a 96% chance. This follows a substantial 50 basis point rate cut in September. Attention will be keenly focused on Federal Reserve Chair Jerome Powell's comments post-meeting, as investors seek further insights into future rate actions.

Earnings season continues with about 20% of the S&P 500 companies set to report their results in the upcoming week. Thus far, approximately 70% of the companies that have reported have surpassed estimates, according to FactSet data. Major firms such as Super Micro Computer, Moderna, CVS Health, Qualcomm, and Wynn Resorts are among those scheduled to release their earnings in the coming days.