Stock futures are unchanged as Wall Street waits for the US midterm elections

Following a positive day for the markets, stock futures remained unchanged as of Monday night as investors anticipated Tuesday's midterm elections in the United States.

After reversing previous gains, futures linked to the Dow Jones Industrial Average climbed 12 points or 0.04%. Both the Nasdaq 100 futures and the S&P 500 futures were a little down. After releasing poor quarterly results, Take-Two Interactive, Tripadvisor, and Lyft all experienced share price declines of over 15%.

The movements follow a day in which all major indices recorded their second consecutive positive trading session. The Dow Jones Industrial Average increased by 423.78 points, or 1.31%, at the closing bell. The Nasdaq Composite increased by 0.85%, and the S&P 500 increased by 0.96%.

The outcome of Tuesday's midterm elections is anticipated by investors. They will choose which party rules Congress and direct future spending and policy.

Whether Republicans regain control of the Senate, the House of Representatives or both will largely determine how the markets respond.

According to Lori Calvasina of "Fast Money," "the belief that [Republicans] are going to take back the house is very well built into the market." "I'm not saying it won't be nice, that we won't have a few good days, or that it won't bring some stability, but I think for a major spike in the S&P they need to take back the Senate as well," the speaker said.

The newest information on how far the Federal Reserve's interest rate rises have reduced high inflation will also be eagerly watched by Wall Street in Thursday's consumer price index report. Another hotter-than-expected report might give the Fed the confidence to hike rates rapidly in December, thus this number could also indicate the central bank's course going ahead.

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