S&P 500 futures were little changed on Monday night as investors mulled over Apple's quarterly earnings report and awaited U.S. midterm elections.
Dow Jones Industrial Average futures gained 24 points. S&P 500 futures gained 0.1%. Nasdaq-100 futures added 0.3%.
Apple shares were down 2% in extended trading after the consumer tech giant rolled out a disappointing margin forecast and iPad sales in the fiscal fourth quarter missed the Street's estimates.
Over in Asia, markets were mixed on Tuesday, with South Korea's Kospi tracking the tech losses on Wall Street.
The benchmark index slipped 3.28% in early trade, with heavyweight Samsung Electronics down 4.37%. Australia's S&P/ASX 200, on the other hand, still was in positive territory, up 0.22%.
Hong Kong's Hang Seng Index rose 0.16% in early trade in Asia, with gains in the academic and education sector offsetting losses from the energy sector.
Mainland China, on the other hand, saw the CSI 300 index slip 0.84%, weighed down by tech and energy stocks.
Japan's markets are closed for a public holiday.
In the regular U.S. 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%.
Marvell Technology shares fell about 12%, while Lumentum dropped 18% after Marvell announced it would acquire Lumentum in a $115 billion deal. Oracle shares also fell 8% after the company said it plans to sell $10 billion in common stock and $10 billion in bonds to help finance its artificial intelligence build-out.
As Tuesday approaches, investors will turn their attention toward the midterm elections, where prediction market traders see a nearly 75% likelihood of Democrats taking the Senate. A sweep of the House and Senate by Democrats could spark a sell-off for artificial intelligence stocks, according to JPMorgan.
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, artificial intelligence 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."
However, an outright sweep by either party could shake up stocks. "If you have a huge red wave or a big blue wave, markets actually kind of don't like that as much because you have too much spending one way and too much power," Detrick said.
Tuesday will be a busy day for investors packed with a raft of corporate earnings. Pfizer, Shopify, Eaton and Marathon Petroleum are among those scheduled to release results before the open, followed by Advanced Micro Devices and Super Micro Computer in the afternoon.
On the economic front, traders await the release of the Job Openings and Labor Turnover Survey for September, as well as factory orders data.
Correction: A prior version of this story had an incorrect forecast for Apple's first-quarter guidance.
9 Min AgoNorth Korea denies links to Binance hack as researchers trace stolen billions
North Korea rejected U.S. allegations linking Pyongyang to the estimated $6.3 billion Binance hack, calling the accusation a "grave political provocation," according to state media.
Kim Yo Jong, sister of North Korean leader Kim Jong Un, denounced the FBI's attribution of the attack to North Korea-linked hacking group TraderTraitor, Yohnap reported Tuesday, citing the state-run Korean Central News Agency.
She accused Washington of misleading international public opinion by portraying cybercrimes around the world as the work of North Korea.
— Jenny Lee
1 Hour AgoHong Kong inches up in early trade, China slips
Hong Kong's Hang Seng Index rose 0.16% in early trade in Asia, with gains in the academic and education sector offsetting losses from the energy sector.
Mainland China, on the other hand, saw the CSI 300 index slip 0.84%, also weighed down by tech and energy stocks.
— Lim Hui Jie
3 Hours AgoSouth Korea tracks tech losses on Wall Street, Australia holds up
Asia-Pacific markets were mixed early Tuesday, with South Korea's Kospi sliding sharply as it tracked Wall Street's losses in the tech sector.
The Kospi dropped 3.55% at open, with heavyweight Samsung Electronics down by 5%, while the small-cap Kosdaq slipped 2.53%.
Australia's benchmark S&P/ASX 200 was 0.21% higher.
—Lim Hui Jie
4 Hours AgoStocks making the biggest moves in extended trading: Apple, Clorox, Palantir & more
Several stocks made sharp moves in after-hours trading following the latest round of earnings releases.
Apple — Apple shares were down 2% in extended trading after the consumer tech giant rolled out a disappointing margin forecast and iPad sales in the fiscal fourth quarter missed the Street's estimates.
The Clorox Company — The maker of Clorox Disinfecting Wipes added 2% after fiscal first-quarter results came in ahead of estimates. The company earned $1.55 per share on an adjusted basis on revenue of $1.91 billion. Analysts surveyed by LSEG were looking for $1.07 a share and $1.88 billion. Organic sales growth for the period also topped estimates.
Palantir Technologies — Palantir shares were down 2% even after the company's third-quarter earnings topped Wall Street's estimates. Revenue for the period nearly doubled from a year earlier and surpassed $2 billion for the first time. The company's U.S. commercial revenue jumped 148% to $984 million, topping U.S. government revenue of $953 million. Palantir is also projecting about $2.65 billion in fourth-quarter revenue and $8.53 billion for full-year 2026.
Correction: A prior version of this blog post had an incorrect forecast for Apple's first-quarter guidance.
—Darla Mercado
4 Hours AgoAsia markets set for higher open as investors look to midterms
Asia-Pacific markets were set to open higher Tuesday, breaking ranks with the tech induced slide on Wall Street as investors also looked toward the U.S. midterm elections.
Australia's S&P/ASX 200 started the day 0.57% higher as traders awaited the Reserve Bank of Australia's rate decision later on Tuesday.
Hong Kong Hang Seng index futures were at 23,535, compared with the index's last close of 23,393.
Japan's markets are closed for a public holiday.
— Lim Hui Jie
4 Hours AgoStock futures are flat as investors weigh Apple earnings and U.S. midterm elections loom
Nasdaq-100 futures were little changed after 6 p.m. in New York.
Dow Jones Industrial Average futures lost 0.02%. S&P 500 futures fell 0.02%. Nasdaq-100 futures added 0.09%.
— Deena Zaidi
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