US stock futures mixed as Apple slides and midterms loom
SPY•US stock futures were mixed on Tuesday, with Dow futures down 0.42%, S&P 500 futures up 0.02% and Nasdaq 100 futures up 0.46%, as investors awaited midterm results. Apple fell 4.5% in premarket trading after warning that rising memory-chip costs would pressure holiday-quarter gross margin.
1. Futures mixed
US stock index futures were mixed as crude oil prices ticked up and markets awaited midterm election results. Apple fell 4.5% in premarket trading after warning that rising memory-chip costs would pressure its holiday-quarter gross margin.
2. Tech stocks diverge
Palantir forecast fourth-quarter revenue above estimates after topping third-quarter expectations, but its shares fell 6.3%. Nvidia rose 1.6%, while AMD gained 2.8% ahead of its quarterly results; Marvell Technology and Intel also moved higher.
3. Election and market risks
The Nasdaq-100 closed more than 10% below its record closing high on Monday, entering a correction as investors questioned Big Tech's AI spending and returns. Polls and nonpartisan analysts favored Democrats to take the House, while control of the Senate remained uncertain.
