Traders work at the New York Stock Exchange on Nov. 2, 2026.
NYSE
S&P 500 futures rose on Tuesday as investors moved back into key technology stocks after recent pressure, while oil fell ahead of the U.S. midterm elections.
Futures tied to the broad market index rose 0.2%, while Nasdaq-100 futures jumped 0.8%. Dow Jones Industrial Average futures, however, traded down 127 points, or 0.2%, weighed down by Apple shares.
Apple fell 4% after the consumer tech giant rolled out a disappointing margin forecast and iPad sales in the fiscal fourth quarter missed the Street’s estimates.
Conversely, shares of chipmakers bolstered S&P 500 and Nasdaq-100 futures. Micron Technology jumped almost 4%, while Advanced Micro Devices and Intel each rose more than 3%. Additionally, Broadcom and Nvidia gained around 2%.
Oil prices, meanwhile, turned lower on speculation that there was progress in U.S.-Iran negotiations. Brent crude was down almost 3% at around $101 per barrel. West Texas Intermediate futures dropped nearly 2% to around $94 per barrel.
Stocks are coming off a mixed session. The tech-heavy Nasdaq Composite dipped 1.07%, while the S&P 500 fell 0.51% as investors continued their rotation out of tech stocks. The Dow rose about 214 points, or 0.41%.
Investors are turning their attention toward the midterm elections on Tuesday, where prediction market traders see a nearly 75% likelihood of Democrats taking the Senate.
A sweep of the House and Senate by Democrats could weigh on the broader market on Wednesday — and spark a sell-off in artificial intelligence stocks especially — as investors have not firmly positioned for that outcome. If Republicans retain control of the Senate or both chambers, however, the market may see gains in the short term.
Even with President Donald Trump in the White House, a victory by Democrats in either the House or Senate could shape investigations and oversight in Washington — which is key for industries like defense, AI and healthcare.
Once the elections are over, markets may find some calm, according to Ryan Detrick, CNBC contributor and chief market strategist at Carson Group. “There’s some anxiousness before these elections,” he told CNBC. “Once you are through it, it’s a big relief and markets tend to do pretty well.”
Over in Asia, markets were mostly down on Tuesday, led by tech losses in South Korea and Taiwan. The Kospi ended 3.59% down at 5,648.79, while the Taiwan Weighted Index fell 3.59% as well, closing at 43,307.54. Mainland China’s CSI 300 closed 0.2% down at 4,008.87. The only exception was Australia’s S&P/ASX 200, which gained 0.34% to end at 8,886.8, as well as Hong Kong’s Hang Seng Index, which was 0.37% up in its final hour of trade.
Correction: A prior version of this story had an incorrect forecast for Apple’s first-quarter guidance.
