Futures Wobble as Voters Decide Congress and Pharma Earnings Land

US stock futures split three ways Tuesday morning while voters head to the polls. The midterm elections are the main event, with control of Congress up for grabs and Republicans at risk of losing their grip on it. The Dow Jones slipped 0.58%, down 302 points, as of 4:17 am ET, while the S&P 500 shed 0.10%. The Nasdaq 100 bucked the mood, adding 0.24%.

The euro barely budged against the dollar, trading at 1.11889 as of 4:29 am ET.

Earnings season refuses to slow down. Pharma heavyweights Pfizer, BioNTech and Amgen all report today, with Ferrari, Booking and AIG also on the docket.

Monday's session set a messy backdrop. Markets closed mostly lower as investors kept rotating out of tech, dragging the Nasdaq 100 down 1.40%. The Dow still managed a gain of 0.42%, up 215 points at the closing bell.

Earlier in that same day, the Dow had jumped 400 points at the open after Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei handed his administration 'certain authorities' to pursue peace negotiations, with Tehran insisting it wants to resolve things through dialogue. Oil prices plunged on the renewed hopes for a Middle East deal, easing worries about energy supply shocks.

Single stocks made noise too. Rivian climbed 12% after a UBS upgrade, while Oracle dropped more than 6% on plans to raise $20 billion for its AI push. Now the midterms take center stage, and traders will be watching whether Washington's balance of power shifts along with their positions.