S&P 500, Nasdaq edge higher ahead of midterm results; Apple falls
SPY•SPY•SPY•SPY•The S&P 500 rose 0.29% and the Nasdaq gained 0.62% as oil prices fell ahead of U.S. midterm results, while the Dow slipped 0.49%. Apple fell 2% after warning that rising memory-chip costs would pressure its holiday-quarter gross margin.
The S&P 500 and Nasdaq rose on Tuesday as crude prices extended declines, while the Dow fell. At 9:57 a.m. ET, the S&P 500 was up 0.29% at 7,563.40, the Nasdaq was up 0.62% at 25,319.75 and the Dow was down 0.49% at 51,727.46.
Apple fell 2% after warning that memory-chip costs would continue to rise and pressure its holiday-quarter gross margin. Nvidia gained 2.7%, the Philadelphia semiconductor index rose 2.7%, and AMD advanced 4% ahead of its quarterly earnings.
Investors awaited U.S. midterm election results as seven of the 11 major S&P 500 sectors traded lower. Brent crude fell more than 1%; software shares also declined, with Gartner down 17.2% and Thomson Reuters and Shopify each sliding about 10% after reporting quarterly earnings.
