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Date Posted: 04:37:59 11/07/06 Tue
Author: No name
Subject: Stock futures point to mixed open as investors await results from closely watched mid-term election to determine control of Congress.

Stock futures point to mixed open as investors await results from closely watched mid-term election to determine control of Congress.
November 7 2006: 6:25 AM EST

NEW YORK (CNNMoney.com) -- As Americans go to the polls in one of the most fiercely fought and closely watched mid-term elections Tuesday, investors looked poised to give a mixed vote for stocks in the early going.

Stock futures, were slightly higher in early trading but a comparison to fair value, which predicts the direction of equities at the open, points to the blue-chip S&P 500 opening slightly higher while the tech-heavy Nasdaq may open a bit lower.

Wall Street, if the Democrats win
Polls have suggested that Democrats are poised to take control of the House of Representatives, but the control of the Senate is considered too close to call at this point. Some experts have suggested that if the Republicans hang onto both houses it could be a short-term lift for stocks, particularly in the health care sector, but that a Democrat victory could lift stocks longer term because Wall Street likes the gridlock that results when different parties control the legislative and executive branches.

Oil prices were lower in early trading, while treasury prices were little changed, leaving the yield on the 10-year note near the 4.69 percent level reached late Monday, even after Cleveland Federal Reserve President Sandra Pianalto warned Monday evening that another hike in U.S. interest rates might be necessary to battle inflation.

In corporate news, Verizon Communications (Charts) is in advanced talks with video sharing Web site YouTube, which was recently agreed to be purchased by Google (Charts), to bring the popular site's videos to cell phones and television sets, according to a report in the Wall Street Journal.

Microsoft (Charts) is set to announce Tuesday that owners of its Xbox 360 home entertainment player will be able to buy or rent films and television shows via its online Xbox Live Marketplace.

Toll Brothers (Charts) lowered its guidance for revenue and homes it will deliver to customers in the just completed fiscal fourth quarter and warned that it sees no end of the deep slump in home building in the near term.

Toyota Motor (Charts) posted a better-than-expected 44 percent rise in quarterly operating profit on strong U.S. sales as it raised its full-year guidance.

Wall Street if the Democrats win

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