With futures on the S&P500 and Nasdaq-100 up a timid 0.1%, investors on the New York Stock Exchange seem reluctant to take too many positions on the eve of an election with a particularly uncertain outcome.

'Neither candidate has announced any intention of reducing the federal budget deficit. In an economy already exceeding its potential, this could cause excess demand and pressure on prices', Oddo BHF pointed out last week.

'It is universally accepted that this risk would be greater if Donald Trump is elected and implements his program (higher tariffs, limiting migratory flows)', the research firm warned, however.

Another highlight of the week will be the Federal Reserve's monetary policy decision on Thursday at the close of the FOMC meeting, with a 25 basis point rate cut widely expected from the US central bank.

On Friday, Mahmoud Alkudsi, senior market analyst at ADSS, said: "Weaker-than-expected job creation could prompt the Fed to follow up on this cut," following the poor employment report for October.

These events are likely to overshadow the week's US statistics, which include September industrial orders on Monday, October PMI and ISM services indices on Tuesday, and third-quarter productivity figures on Thursday.

In other stock news, General Motors (GM) announced that it had reached an important milestone in October 2024, with more than 300,000 electric vehicles sold in the United States since 2016, and more than 370,000 in North America.

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