Trump Announces $8 Billion Diesel Relief Plan for US Farmers

President Donald Trump announced an $8 billion initiative to offset rising diesel expenses for US farmers, a move that preceded a mixed session for equity futures. The US Department of Agriculture will implement the "harvest fuel relief program" to provide financial support during the harvest season. Trump made the announcement during a midterm election campaign event in Kansas, according to multiple media reports.

US equity futures showed varied performance in the pre-market session. Dow Jones Industrial Average futures rose by 0.1%, while S&P 500 futures declined by 0.2%. Nasdaq futures fell by 0.6%. Investors were also processing recent corporate earnings releases from major industrial firms. GE Aerospace and RTX reported higher third-quarter adjusted earnings and revenue. Netflix is scheduled to report its third-quarter financial results after the market closes on Tuesday.

Analysts polled by FactSet project Netflix will earn $0.82 per share on revenue of $12.87 billion. Energy markets moved higher ahead of the bell, with crude oil prices increasing. Front-month North Sea Brent crude rose 1.9% to $111.66 per barrel. US West Texas Intermediate crude gained 2.5%, reaching $101.02 per barrel.

Economic data releases are expected later in the day. Housing starts for September are slated for release at 8:30 am ET, with estimates compiled by Bloomberg projecting 1.305 million units annually, up from 1.275 million in the prior period. Pending home sales for September, scheduled for 10 am ET, are seen dropping by 0.5% following a 0.3% increase in the previous month.