Published • loading... • Updated
US Stock Futures Mixed as Apple Falls on Margin Warning, Midterm Results Awaited
Apple fell after warning that rising memory-chip costs will pressure holiday-quarter margins as investors awaited U.S. midterm election results.
- Apple fell 4.5% in premarket trading on Tuesday as the company warned rising memory chip costs would pressure its holiday-quarter gross margin, while U.S. stock futures remained mixed ahead of midterm election results.
- The Nasdaq-100 entered a correction after closing more than 10% lower from its all-time high on Monday, as investors grew wary of Big Tech's soaring artificial intelligence spending with little evidence of adequate returns.
- Chip stocks showed mixed resilience; Nvidia climbed 1.6% after falling for four sessions, AMD gained 2.8% ahead of earnings, and Harmonic added 16.1% after raising revenue forecasts.
- American voters delivered a verdict on President Donald Trump's first two years of his second term, with nonpartisan analysts favoring Democrats to gain control of the House from Republicans, though Senate control remained uncertain.
- Morgan Stanley analysts said the elections should help remove a major market overhang, noting the U.S. market correction that began in June was in its "final innings," though geopolitical tensions persisted as oil prices rose Tuesday.
Insights by Ground AI
12 Articles
12 Articles
The Economic TimesReposted by 
Times of India
Times of IndiaUS stock futures mixed as Apple falls on margin warning, midterm results awaited
U.S. stock index futures reflect a mixed response as crude oil prices trend upwards ahead of midterm election outcomes. Apple's shares took a hit following its announcement regarding rising costs and potential holiday-quarter margin impacts. Despite Palantir Technologies exceeding revenue estimates, its stock plummeted post-results. Analysts are warning of heightened market volatility depending on elections and government expenditure.
·Mumbai, India
Read Full Article
Wall St futures mixed as Apple falls on margin warning, midterm results awaited
By Shashwat Chauhan and Utkarsh Hathi Nov 3 (Reuters) - US stock index futures were mixed on Tuesday as crude oil prices ticked up and markets awaited the midterm election results, while Apple joined the list of Big Tech companies whose results fail...
Coverage Details
Total News Sources12
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
Factuality
To view factuality data please Upgrade to Premium
