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5 things to know before the stock market opens Tuesday

Pro-union stickers are pictured on a pole outside the Boeing Renton Production Facility one day before striking union members will vote on a new contract offer in Renton, Washington on November 3, 2024. 
Jason Redmond | Afp | Getty Images
  • The Boeing machinists strike has ended after seven weeks.
  • The U.S. presidential election has arrived.
  • Palantir shares jumped 13% after a strong earnings report.

Here are five key things investors need to know to start the trading day:

1. All eyes on the election

Stock futures increased slightly Tuesday ahead of the U.S. presidential election. Nasdaq-100 futures gained 0.3%, while futures tied to the Dow Jones Industrial Average increased 0.1% and S&P 500 futures rose 0.2%. CNBC data going back to 1980 suggests some near-term choppiness in the session and week after the election, which could be heightened if results remain uncertain days later. Follow live market updates.

2. Boeing strike ends

Boeing machinists voted 59% in favor of a new contract on Monday, ending a more than seven-week strike that stopped most of the company's aircraft production. The contract includes 38% wage increases over four years along with other improvements. The 33,000 machinists who walked off the job in September voted down two prior contract proposals, but union leadership warned that the latest deal might be as good as workers could get. Workers on strike will return to their jobs no later than Nov. 12, but could return as early as Wednesday.

3. Election day

Fulton County elections workers process absentee ballots at the new Fulton County Elections Hub and Operations Center on November 4, 2024, in Union City, Georgia. 
Elijah Nouvelage | Afp | Getty Images
Fulton County elections workers process absentee ballots at the new Fulton County Elections Hub and Operations Center on November 4, 2024, in Union City, Georgia. 

Election day has arrived. Former President Donald Trump jumped around to North Carolina, Pennsylvania and Michigan on Monday, while Vice President Kamala Harris journeyed through Pennsylvania in a last-ditch effort to secure the crucial swing state. More than 79 million people have already cast their ballots early in person or by mail, according to NBC's early vote tracker. The first polling places will close Tuesday at 6 p.m. ET in parts of Kentucky and Indiana. States will likely be reporting results throughout the night and the days after.

4. Palantir shares skyrocket

A woman walking past the logo of U.S. big data analytics software company Palantir Technologies during the World Economic Forum annual meeting in Davos, Switzerland.
Fabrice Coffrini | AFP | Getty Images
A woman walking past the logo of U.S. big data analytics software company Palantir Technologies during the World Economic Forum annual meeting in Davos, Switzerland.

Palantir shares increased 13% in extended trading on Monday after the data analytics software maker reported strong third-quarter results. The company's third-quarter revenue grew 30% from a year ago, reaching $726 million compared with the $701 million analysts surveyed by LSEG expected. Palantir also raised its revenue guidance above current Wall Street estimates for both the fourth quarter and all of 2024. CEO Alex Karp attributed the company's growth primarily to U.S. government and commercial business and hopes to bring in more than $687 million in U.S. commercial revenue for the year, about 24% of the total forecast.

5. Nintendo's losing steam

A Nintendo Switch console.
Philip Fong | AFP | Getty Images
A Nintendo Switch console.

Investors are waiting for a new console announcement from Nintendo, which cut its forecast on Tuesday for Switch sales for fiscal 2025 as demand wanes. The Japanese gaming giant reported a 69% drop in net sales for the fiscal second quarter ended Sept. 30, along with a 17% decrease in revenue year over year. Nintendo's flagship Switch console is the company's second best-selling console after the Nintendo DS, but demand began to fade in the seven years since the console's release. The company previously said the Switch's successor would be announced in its current fiscal year, which ends in March.

CNBC's Samantha Subin, Leslie Josephs, Dan Mangan, Kevin Breuninger, Jake Piazza, Annie Nova, Rebecca Picciotto, Ece Yildirim, Jordan Novet and Arjun Kharpal contributed to this report.

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