The Nasdaq rose 0.83% and the S&P 500 gained 0.36% on Tuesday, while the Dow fell 0.38%. Chipmakers rebounded, but Apple slipped 1.9% after warning that rising memory-chip costs would pressure its holiday-quarter gross margin.
The Nasdaq ended higher as AI heavyweights rebounded ahead of US midterm results. Nvidia rose 2.3% after four sessions of losses, Micron gained 2.6%, and Microsoft and Amazon each advanced more than 2%. Apple fell 1.9% after warning that rising memory-chip costs would pressure its holiday-quarter gross margin.
The S&P 500 climbed 0.36% to 7,568.92, the Nasdaq gained 0.83% to 25,372.01, and the Dow declined 0.38% to 51,787.04. Palantir shares dipped despite the analytics software provider forecasting fourth-quarter revenue above estimates after topping third-quarter expectations. Gartner, Thomson Reuters and Shopify shares also fell after reporting quarterly results.
Investors were watching the midterm elections for potential implications for fiscal policy, regulation, taxation and government spending. The Nasdaq 100 had ended Monday more than 10% below its October 6 record close, while the S&P 500 remained about 3% below its record close.
