Wall Street braces for US election and Federal Reserve rate decision next week

Wall Street is focused on the upcoming U.S. presidential election on November 5, where Democrat Kamala Harris and Republican Donald Trump are in a close race. Market participants are also anticipating a Federal Reserve interest rate decision later in the week. The Fed is expected to cut interest rates for the second time this year, following a half-point reduction in September. Economists predict a quarter-point cut, bringing the rate to about 4.6 percent. Next week will also feature earnings reports from major companies, including Palantir Technologies and Qualcomm. Key economic data will be released, including factory orders and trade deficit figures.