Dow and S&P 500 contracts declined while the Nasdaq 100 edged slightly higher on selective semiconductor resilience from Nvidia, AMD, and Intel. Investors are weighing the prospect of congressional gridlock as polls suggest Democrats could capture the House while Senate control hangs in the balance. Corporate earnings provided a fractured picture, as raised revenue guidance from Pfizer and Aehr Test Systems contrasted sharply with an 8% slide for Palantir.
Key points
Morgan Stanley analysts expect market volatility to ease once the midterm election result…: Morgan Stanley analysts expect market volatility to ease once the midterm election results eliminate a major political unknown.
Tech sector performance remains fragmented as chipmakers advance despite broader correcti…: Tech sector performance remains fragmented as chipmakers advance despite broader corrections driven by skepticism surrounding sustained capital expenditures.
President Trump stated to reporters that he is not considering military strikes against I…: President Trump stated to reporters that he is not considering military strikes against Iran following the conclusion of the midterm vote.
Sources checked by our analysis pipeline: 1
Apple fell 3.9% in premarket trading after the company warned the cost of memory chips would continue to rise, pressuring its holiday-quarter gross margin.
AI-powered analytics software provider Palantir Technologies forecast revenue above estimates for the last three months of the year after topping third-quarter expectations. Its shares, however, fell 7.7%.
The Nasdaq-100 closed more than 10% below its all-time closing high on Monday, confirming that the tech-heavy index has entered a correction as investors grow wary of Big Tech's soaring AI spending and little evidence of adequate returns.
Several tech companies have also tapped the bond market to finance big AI investments recently, amplifying concerns that debt-funded spending will become harder to justify as borrowing costs rise.
At 7:07 a.m. ET, Dow E-minis were down 489 points, or 0.94%, and S&P 500 E-minis were down 14.75 points, or 0.19%. Nasdaq 100 E-minis were up 36.25 points, or 0.13%.
A rise in chip stocks helped offset some losses. Nvidia climbed 1.4% after falling for the last four sessions. Following the recent heavy losses in Nvidia, Apple surpassed the chip designer…
Shares of Cadence Design Systems are experiencing a downward trend today. Specific details, market data, and the underlying catalysts behind the stock's decline have not yet been disclosed.
Market participants are tracking upward movement in shares during the active trading period. The underlying dynamics reflect positive momentum as buying interest supports current valuation levels across public exchanges. Investors continue to evaluate ongoing developments to determine the sustainability of this ongoing upward trajectory.
Technical indicators for Apple demonstrate a clear split between immediate downward pressure and broader stability. Investors face distinct risk horizons as the stock confronts near-term headwinds without breaking its primary multi-month upward trajectory. This structural divide highlights potential entry zones while warning active traders against premature short-term buying.