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U.S. Morning Call: Markets brace for election, fiscal cliff

Monday, Nov 05, 2012 - 02:33

Nov 5 - Stock futures pointed slightly higher as European stocks fell ahead of the U.S. presidential election and Congress at a standstill on averting the fiscal cliff.

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Less than 24 hours away from the US presidential election let's see how markets -- -- headed it too close to call race with your Monday morning call. Taking a look at US stock futures they're pointing to a slightly higher open this morning. On Friday US stocks ended an unusual shifts storm shortened trading week where they sell off. Stocks across the pond falling in cautious trading. Investors opting for safer bets ahead of the polls opening in the US and another tense austerity vote in Greece. President Obama and Republican challenger Mitt Romney in -- campaigning frenzy over the weekend the -- still an -- dead heat for the White House. Also weighing on global stocks this week is the U looming fiscal cliff. Leading world economies and finance ministers calling for the US to address the coming rush of spending cuts and tax -- Which has been put on hold someone and made the elections. Apple squares off against Google is Google's Motorola mobility unit at a bench trial before US district court. Apple is accusing Motorola of demanding unreasonable royalties for some of Motorola's patents. If the court rules in favor of apple Google's ability to fight and negotiate peace in the Smartphone patent wars could -- Shares of apple trading lower in premarket trade. Third quarter earnings are expected from electric carmaker Tesla. Investors who want to hear what the progress is on the model S roll out after tests would cut its full year revenue forecast. Due to delays in that -- shares of Tesla trading higher in the premarket. Also out today IntercontinentalExchange. Is expected to report lower earnings due to a drop in trading volumes. Which set last month fell 4% in the third quarter from a year earlier. Q that's set to -- metropolitan networks for 850. Million. The company also repay all of metropolitan outstanding debt and says the -- been approved by both companies' boards. Time Warner reported revenues of five point four billion dollars for the third quarter slightly above expectations. Earnings per share came in at two dollars and sixty cents well above expectations. Goldman Sachs Group has cut the number of employees with its partners to help streamline expenses. It reduce the number of partners to 407. Down 31 from February. That's it for your Monday morning call for more news follow us on Twitter at Reuters Insider and check out our Reuters YouTube channel at Reuters dot com slash Reuters TV. Analyst Bernard this is Reuters.

U.S. Morning Call: Markets brace for election, fiscal cliff

Monday, Nov 05, 2012 - 02:33

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