Stocks bounce as Apple earnings near, oil falls
SPY•Asian shares and U.S. stock futures rose as investors awaited Apple earnings, while Brent crude fell 3.3% to $109.70 a barrel and U.S. crude dropped 3.4% to $100.58.
1. Markets look to Apple
Share markets bounced in Asia and U.S. stock futures gained as investors looked to Apple’s results for relief from concerns about AI spending. S&P 500 futures rose 0.5% and Nasdaq futures climbed 0.9%. Analysts forecast Apple quarterly earnings per share of $2 on revenue of $113 billion, and the company might discuss early iPhone 18 sales.
2. Oil retreats, gold rises
Brent crude fell 3.3% to $109.70 a barrel and U.S. crude lost 3.4% to $100.58, after talks continued between Iranian and Qatari mediators. Gold rose 0.9% to $3,911 an ounce after falling 6.8% last month.
3. Rate expectations shift
Markets still priced in a 72% chance of a quarter-point Federal Reserve rate increase in December, while 10-year Treasury yields held at 4.931%. Investors were also watching economic data due this week, including the U.S. payrolls report on Friday.
