US equity futures were edging higher pre-bell Monday as traders focused on the midterm elections and another week filled with corporate earnings amid oil prices declining.
Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.6% higher.
Iran said it had a plan to reopen the Strait of Hormuz within two days if the US agrees to its conditions, after previously saying it could implement the plan within a week, according to media reports. Iran's demands include the lifting of the US naval blockade of its ports, the waiving of sanctions on Iranian oil sales, and the declaration of a ceasefire that would include Lebanon.
Traders digested the latest round of earnings, with Marriott International (MAR) reporting higher Q3 adjusted net income and revenue.
Apple (AAPL) and Palantir Technologies (PLTR) are expected to report their fiscal Q4 and Q3 earnings, respectively, after the market closes.
Slated to report their financial results this week are Advanced Micro Devices (AMD), Amgen (AMGN), Toyota Motor (TM), Uber Technologies (UBER), ConocoPhillips (COP), and Berkshire Hathaway (BRK.A).
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.2% at $108.68 per barrel and US West Texas Intermediate crude 4.4% lower at $99.55 per barrel.
The final S&P Global manufacturing purchasing managers index for October, due at 9:45 am ET, is projected to be unchanged at 56.0, according to estimates compiled by Bloomberg.
The October Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 54.5, unchanged from the previous month. The September construction spending report is also expected at 10 am ET.
Federal Reserve Chicago President Austan Goolsbee is slated to speak on Monday.
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