Cautious mood on Wall Street
Futures were mixed as investors focus their attention on the presidential election.
NEW YORK†(CNNMoney.com) -- U.S. stock futures were mixed Monday, as investors expressed caution on the eve of Election Day.
Less than one hour before the start of trading, Dow Jones industrial average and S&P 500 both fell, while Nasdaq 100 futures were slightly higher.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
Stocks rallied Friday, although that session ended one of the worst months in Wall Street history.
Trading is expected to be choppy as investors await the outcome of Tuesday's U.S. presidential election.
Economy: A report on construction spending in September is due at 10 a.m. ET. Economists expect a decline of 0.8%, according to a consensus of projections compiled by Briefing.com. In August, construction spending was flat.
The ISM Index, a measure of nationwide manufacturing activity, is also set to be released at 10 a.m. ET. The October reading is expected to come in at 43, down from 43.5 in September, according to the Briefing.com consensus. Anything below 50 signals a contraction in manufacturing, while anything over 50 reflects growth.
Companies: In major corporate news, buyout firm KKR is delaying its plan to go public on the New York Stock Exchange due to the turmoil in financial markets.
Credit card colossus MasterCard (MA) is scheduled to report third-quarter results after the close. The company is expected to report a 25% gain in earnings to $2.25 per share, compared to the same period last year, according to a consensus of analyst estimates from Thomson Reuters.
World markets: In global trade, shares in Hong Kong and Seoul rallied. Markets in Tokyo were closed. European stocks were higher in midday trading, on expectations that the European Central Bank and the Bank of England will cut borrowing rates this week.
Oil and dollar: The U.S. dollar was up against major currencies, including the euro, yen and British pound. Oil slipped $1.27 to $66.54 a barrel in electronic trading on the New York Mercantile Exchange.