Dow Jones Industrial Average futures
were under pressure on Tuesday as Apple
shares slid and oil prices rose, while investors braced for the U.S. midterm elections.
Futures tied to the 30-stock average traded 359 points lower, or 0.7%. S&P 500 futures lost 0.1%, and Nasdaq-100 futures
climbed 0.4%.
Apple shares were down 4%, weighing on Dow futures, 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 Nasdaq-100 futures as investors moved back into the trade after it saw pressure in the previous session. 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, moved higher as tensions in the Middle East simmered. Brent crude
was marginally higher at around $105 per barrel. West Texas Intermediate futures
advanced nearly 1% to around $97 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%.
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