Pre-Market Nov 2: Futures Rise as Marvell-Lumentum Deal Shakes Chips

Stocks are set to open higher this Monday morning, with S&P 500 futures (contracts tied to the index's future value) up 0.34% as investors head into a week packed with earnings and jobs data. Nasdaq 100 futures are ahead by 0.58% and Russell 2000 futures by 0.49%, while the volatility index (VIX), a gauge of expected market swings, has eased slightly to 19.35. West Texas Intermediate (WTI) crude oil has dropped sharply, down 4.20% to $99.75 a barrel, while gold is up modestly to $3,909.60 an ounce and bitcoin has slipped 0.87% to $77,554.

The biggest S&P 500 moves

Idexx Laboratories leads S&P 500 gainers before the open, up 6.78%, after the veterinary diagnostics company reported third-quarter earnings per share (EPS) of $3.96, beating the $3.73 estimate. Fox Corporation (Class B) is up 4.98% after posting EPS of $2.54 against a $2.07 estimate. Marriott International has climbed 4.46% following EPS of $3.02 versus a $2.84 estimate. EchoStar and Old Dominion are each moving before the open, both up roughly 4.3%.

On the downside, Lumentum Holdings has fallen 6.51% after Marvell Technology agreed to acquire it in an all-stock deal valued at $115 billion, with CNBC reporting the transaction values Lumentum at $1,132 per share. Marvell itself is down 3.07%, as MarketWatch noted the offer price sits about 24% above where Lumentum traded before acquisition rumors began. Oracle is down 3.58% and Cboe Global Markets has slipped 3.01%, while Eversource Energy is lower by 2.95%; no source in our facts explains the moves in Oracle, Cboe or Eversource.

On the calendar today

Nothing on today's economic calendar has been released yet. Still ahead: the Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) for October at 10:00 AM ET, expected at 54.6 versus a prior reading of 54.5, alongside the ISM Manufacturing Employment index, expected at 53 versus a prior 52.7. Federal Reserve official Austan Goolsbee is due to speak at 11:15 AM ET.

Of the 19 S&P 500 companies reporting earnings today, nine have already posted results. Estée Lauder Companies reported EPS of $0.72, topping a $0.51 estimate, and Entergy posted $1.98 against a $1.73 estimate. Fox Corporation's Class A shares reported the same $2.54 EPS as its Class B counterpart, beating a $2.02 estimate, while Loews Corporation reported $1.50 EPS with no comparable estimate given. Idexx Laboratories and Marriott International also beat estimates, as detailed above. Public Service Enterprise Group reported $1.15, just under its $1.19 estimate, while UDR posted $0.67, well above a $0.15 estimate.

Still due to report: Apple, with an EPS estimate of $1.99; Clorox at $1.07; Healthpeak Properties at $0.06; Diamondback Energy at $5.72; Realty Income at $0.41; ON Semiconductor at $0.88; Palantir Technologies at $0.41; SBA Communications at $2.09; Vertex Pharmaceuticals at $4.82; and Williams Companies at $0.54.

The latest graded results

In the latest graded recap, both names screened before the open on Friday, October 30, 2026 finished that session higher. Rivian added 0.58% from the open to the close after an earlier pre-market gain, while Regeneron Pharmaceuticals climbed 6.66% over the same stretch, with its best intraday move reaching 6.78% after the open.