08:17 AM EST, 11/05/2024 (MT Newswires) -- US equity futures were cautiously higher pre-bell Tuesday in a nervous wait ahead of the outcome of the country's presidential election.

Dow Jones Industrial Average futures increased 0.1%, S&P 500 futures gained 0.2%, and Nasdaq futures were up 0.3%.

It's election day in the US with investors awaiting the results of the high-stakes contest between former president Donald Trump and current Vice President Kamala Harris.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $75.47 per barrel and US West Texas Intermediate crude 0.6% higher at $71.89 per barrel.

US trade data, scheduled for release at 8:30 am ET, is expected to show a trade defict of $83.8 billion in September from $70.4 billion in the prior month, according to estimates compiled by Bloomberg.

The Institute for Supply Management's Non-Manufacturing Purchasing Managers' Index, due at 10 am ET, is seen coming in at 53.8 in October versus 54.9 previously.