The world is on the edge of its seat as the U.S. prepares to crown its next Commander-in-Chief. Wall Street futures are cautiously optimistic, while European stock exchanges are practicing their best impression of a statue. The U.S. is caught in a dramatic showdown between Kamala Harris and Donald Trump, following a campaign that could rival any soap opera.

Polls are hinting at a nail-biter in seven key states, which will ultimately decide who gets the keys to the White House. Investors are worried about the potential chaos of a contested election result. Yet, despite the candidates' differing economic plans, neither presidency is expected to rock the market boat in the long run.

Now, let's dive into some intriguing facts from the financial wizards about U.S. elections and the stock market. But remember, just because history has a pattern doesn't mean it won't throw a curveball! Typically, in election years, the stock market tends to rise more often than it falls. If the market is on the up-and-up just before the election, the incumbent's party often gets to keep the White House. And historically, when Democrats are in charge, the stock market has performed better than under Republican leadership.

While the election drama hogs the spotlight, companies are also stepping up to share their tales of triumph and woe. Palantir is strutting around like the teacher's pet, boasting about its stellar performance. Meanwhile, NXP is having a bit of a meltdown, allegedly because they haven't been cozying up to artificial intelligence enough.

On the international stage, China is throwing a tantrum because Europe wants it to pay more for its electric cars, and they've tattled to the WTO. Despite this, China's numbers are looking up, especially in services, thanks to some generous spending by Chinese bosses. Down under in Australia, everyone is tiptoeing around the key interest rate, with the central bank not daring to make a move. Investors are also keeping a close watch on the Federal Reserve's monetary policy decision slated for Thursday. A quarter-point rate cut is on the menu, following a half-point reduction in September.

In the realm of trade, the U.S. goods and services trade deficit hit $84.4 billion in September, up from $70.8 billion in August, according to the Bureau of Economic Analysis. Exports in September were $267.9 billion, down $3.2 billion or 1.2% from August, while imports climbed to $352.3 billion, up $10.3 billion or 3%. Year-to-date, the trade deficit has ballooned by 11.8% or $69.6 billion, while exports have grown by 3.7% or $84.7 billion, and imports have expanded by 5.3% or $154.4 billion.

Over in Asia, indices are on the rise in Hong Kong, China, and India, but they're taking a dip in Korea. Meanwhile, Japan's stock market is enjoying a post-holiday boost.

Today's economic highlights:

The US trade balance and the ISM services index are on the agenda. See the full agenda here.

The dollar is down to EUR 0.9175 and GBP 0.7711. The ounce of gold is worth to USD 2,741. Oil regained some ground, with North Sea Brent at USD 74.75 a barrel and US light crude WTI at USD 71.04. The yield on 10-year US debt stands at 4.23%. Bitcoin is hovering around USD 68,700.

In corporate news:

Analyst recommendations:

  • Affiliated Managers Group, Inc.: TD Cowen downgrades to hold from buy with a target price reduced from USD 226 to USD 177.
  • Celanese Corporation: Wells Fargo downgrades to equalweight from overweight with a price target reduced from USD 165 to USD 115.
  • Chevron Corporation: DZ Bank AG Research upgrades to buy from hold with a target price raised from USD 155 to USD 170.
  • Dollar Tree, Inc.: Telsey Advisory Group downgrades to market perform from outperform with a price target reduced from USD 95 to USD 75.
  • Ebay Inc.: Bernstein upgrades to outperform from market perform with a target price of USD 70.
  • Constellation Energy Corporation: Guggenheim maintains its buy recommendation and raises the target price from USD 242 to USD 328.
  • Darling Ingredients Inc.: Heather Jones Research maintains its not rated recommendation with a price target raised from 49 to USD 65.
  • Estee Lauder: Daiwa Securities maintains its neutral recommendation with a price target reduced from USD 95 to USD 67.
  • Gates Industrial Corporation Plc: Barclays maintains its equalweight recommendation and raises the target price from 16 to USD 21.
  • Illumina, Inc.: Guggenheim maintains its buy recommendation and raises the target price from USD 138 to USD 170.
  • International Paper Company: Davy maintains its neutral recommendation with a price target raised from 4500 to USD 5600.
  • Lattice Semiconductor Corporation: Baird maintains its outperform rating and reduces the target price from USD 70 to USD 44.
  • Lpl Financial Holdings Inc.: Morgan Stanley maintains its overweight recommendation and raises the target price from USD 309 to USD 400.
  • Norwegian Cruise Line Holdings Ltd.: Wolfe Research maintains its outperform recommendation and raises the target price from USD 19 to USD 30.
  • Palantir Technologies Inc.: HSBC maintains its hold recommendation with a price target raised from 26 to USD 38.
  • Pegasystems Inc.: JMP Securities maintains its market outperform recommendation and raises the target price from USD 85 to USD 110.
  • Ralph Lauren Corporation: TD Cowen maintains its buy recommendation and raises the target price from USD 208 to USD 251.
  • Rocket Companies, Inc.: Morgan Stanley maintains its market weight recommendation and raises the target price from 11 to USD 18.
  • Royal Caribbean Group: Wolfe Research maintains its outperform recommendation and raises the target price from USD 163 to USD 250.
  • Silicon Laboratories Inc.: KeyBanc Capital Markets maintains its overweight recommendation and reduces the target price from USD 150 to USD 115.
  • Stanley Black & Decker, Inc.: Guotai Junan Securities Co., Ltd. maintains its buy recommendation with a price target reduced from 152.15 to USD 120.15.
  • Tpg Inc.: BMO Capital Markets maintains its market perform recommendation and raises the target price from 45 to USD 60.
  • Uwm Holdings Corporation: Morgan Stanley maintains its market weight recommendation and raises the target price from 6 to USD 7.50.
  • Williams Companies, Inc.: Truist Securities maintains its hold recommendation with a price target raised from 42 to USD 52.
  • 3I Group Plc: Deutsche Bank upgrades to buy from hold with a target price raised from GBX 2918 to GBX 4037.
  • Pennon Group Plc: JP Morgan upgrades to overweight from neutral with a target price raised from GBP 6 to GBP 7.
  • Severn Trent Plc: Citi upgrades to neutral from sell with a price target raised from GBP 22.83 to GBP 24.67.
  • United Utilities: Citi upgrades to buy from neutral with a price target raised from GBP 9.73 to GBP 11.37.