03.11.2008 17:10

Before the bell:

U.S. stock futures were mixed Monday, as investors expressed caution on the eve of Election Day. S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -3.80. Dow futures vs fair value: -16.00. A slightly lower start is expected. Dollar Libor fell across most terms and the TED Spread is down 24 basis points to 2.41%, indicating improved credit market conditions.

Economy: A report on construction spending in September is due at 1500 GMT. Economists expect a decline of 0.8%, according to a consensus of projections compiled by Briefing.com. In August, construction spending was flat.
The ISM Index, a measure of nationwide manufacturing activity, is also set to be released at 1500 GMT. The October reading is expected to come in at 43, down from 43.5 in September, according to the Briefing.com consensus. Anything below 50 signals a contraction in manufacturing, while anything over 50 reflects growth.
Credit card colossus MasterCard (MA) is scheduled to report third-quarter results after the close. The company is expected to report a 25% gain in earnings to $2.25 per share, compared to the same period last year, according to a consensus of analyst estimates from Thomson Reuters.
Oil slipped 64 cents to $67.17 a barrel in electronic trading on the New York Mercantile Exchange.