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The
White House and Democrats in the U.S. Congress made progress in
talks over the relief deal on Tuesday although a timeline of
when the bill could be passed was not clear.
The Trump administration has proposed $1.8 trillion in aid,
while Democrats are pushing for $2.2 trillion.
Wall Street's fear gauge <.VIX> hit a one-month high as the U.S.
election campaign entered its final stretch. Democratic
challenger Joe Biden and President Donald Trump will face off in
their second and final debate on Thursday night.
The race is closer in the battleground states that are likely to
decide the winner of the Nov. 3 election, Reuters/Ipsos polling
showed, while national polls put Biden well ahead of Trump.
At 6:13 a.m. ET, Dow e-minis <1YMcv1> were down 6 points, or
0.02%, S&P 500 e-minis <EScv1> were up 2.25 points, or 0.07%,
and Nasdaq 100 e-minis <NQcv1> were up 12.75 points, or 0.11%.
Netflix Inc <NFLX.O> kicked off earnings from the Big Tech club,
and was down 5.2% premarket after it missed expectations for
subscriber growth as streaming competition increased and live
sports returned to television.
On the other hand, Snap Inc <SNAP.N> surged 24.4% after the
Snapchat messaging app owner beat user growth and revenue
forecasts, as more people signed up to chat with friends and
family during the COVID-19 pandemic.
Shares of other social media companies Facebook Inc <FB.O> and
Twitter Inc <TWTR.N> rose 2.6% and 5.7%, while image sharing
company Pinterest Inc <PINS.N> gained 6.7%.
Of the 66 S&P 500 firms that have reported third-quarter
results, 86.4% have topped expectations for earnings, according
to IBES Refinitiv data.
(Reporting by Medha Singh in Bengaluru; Editing by Shounak
Dasgupta)
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