This is CNBC’s live blog covering Asia-Pacific markets. Asia-Pacific markets are set to trade mixed on Tuesday as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week. Japan’s Nikkei 225 futures pointed to a stronger open for the market, with the futures contract in Chicago at 38,530 and its counterpart in Osaka at 39,600 compared to the previous close of 38,053.67. Hong Kong’s Hang Seng index futures were at 20,658, slightly higher than the HSI’s last close of 20,567.52. Australia’s S&P/ASX 200 slid 0.32% as traders keep an eye on the upcoming central bank rate decision. Analysts at HSBC and the Commonwealth Bank of Australia expect the Reserve Bank of Australia to leave the cash rate unchanged. South Korea’s consumer inflation in October rose 1.3% from a year ago, slightly cooler than Reuters’ expectations of 1.4%. Overnight in the U.S., the Dow Jones Industrial Average slumped 257.59 points, or 0.61%, to close at 41,794.60. The S&P 500 dipped 0.28% to settle at 5,712.69, and the Nasdaq Composite dropped 0.33% to 18,179.98. The moves in stocks Monday came as safe-haven U.S. Treasurys rallied, suggesting that some investors may be reducing risk ahead of Election Day. In addition to the election, Wall Street is preparing for the Federal Reserve’s upcoming rate decision on Thursday. According to CME Group’s FedWatch Tool, traders anticipate a 99% chance of a quarter-point rate cut at the end of the central bank’s policy meeting, following a half-percentage-point reduction in September. —CNBC’s Jesse Pound and Samantha Subin contributed to this report. CNBC Pro: Goldman Sachs names 2 top auto stocks in Asia — giving one 44% upside Goldman Sachs has refreshed its list of top stock picks in Asia to include two automotive stocks. The stocks are featured on the investment bank’s “Conviction List – Directors’ Cut,” which seeks to offer a “curated and active” list of buy-rated stocks. It comes as auto companies have been in the spotlight in the region following stronger SUV sales in countries like India and high electric vehicle adoption in China. CNBC Pro subscribers can read more here. — Amala Balakrishner CNBC Pro: How European investors can hedge against a Trump win, according to Barclays Investors in Europe who are concerned about former President Donald Trump’s potential return to the White House have several options at their disposal, according to Barclays strategists. The bank suggested that European equities could face significant headwinds if Trump wins the presidency, primarily due to the potential for trade tariffs and protectionist policies, and named stocks and options contracts to play the various outcomes. CNBC Pro subscribers can read more here. — Ganesh Rao Stocks close lower Monday as Election Day looms The major averages slumped in the final session before Election Day. The Dow Jones Industrial Average lost nearly 258 points, or 0.6%. The Nasdaq Composite and the S&P 500 both slipped about 0.3%. — Darla Mercado Traders are pricing in too many Fed rate cuts, BlackRock Investment Institute says Traders are still pricing in Federal Reserve rate cuts too aggressively, according to the BlackRock Investment Institute. Jean Boivin, the head of the institute, said in a note to clients on Monday that lingering inflation could keep the Fed’s benchmark rate higher than expected through 2025. Traders are currently pricing in more than one full percentage point of additional rate cuts by the end of next year, according to the CME FedWatch Tool. A solid economy and stubborn inflation will likely keep the central bank from taking rates that low, Boivin said. “U.S. Q3 GDP data last week showed consumer spending is still driving overall economic growth. Average monthly job creation over the past three months now stands at 104,000 after last week’s jobs report — still a healthy pace and one likely to pick up given hiring stalled due to hurricane-related disruptions. As the U.S. election occurs, neither presidential candidate is focused on budget deficits that are likely to stay large no matter who wins,” Boivin’s note said. — Jesse Pound Oil gains more than 2% after OPEC+ delays production boost Crude oil futures rose more than 2% on Monday, after OPEC+ delayed plans to increased production by one month until the end of December. U.S. crude oil had gained $1.70, or 2.45%, to $71.19 per barrel by 11:45 a.m. ET, while global benchmark Brent was up $1.66, or 2.27%, to $74.76 per barrel. OPEC+ plans to increase production and soft demand in China have weighed on prices for months, though the war in the Middle East has intervened occasionally to support brief rallies. — Spencer Kimball