S&P 500 and Nasdaq Edge Higher
The S&P 500 edged up 0.1% and the Nasdaq gained around 0.5% on Tuesday, while the Dow Jones fell 190 points, as oil prices extended their decline ahead of the US midterm elections and mixed corporate updates weighed on major tech stocks. Chipmakers were among the session’s top performers, with Nvidia rising 3% after four consecutive sessions of losses, while AMD gained 5% ahead of its quarterly earnings release after the closing bell. Meanwhile, Apple shares fell 3% after warning that rising memory chip costs could pressure holiday-quarter margins. Palantir Technologies slumped 3.5%, as investors focused on slowing growth in US commercial total contract value. Tech stocks have faced mounting pressure amid concerns over soaring AI spending and limited evidence of adequate returns. Investors also awaited the US midterm election results, with Democrats favored to regain control of the House of Representatives, while the Senate outcome remained uncertain.
The S&P 500 edged up 0.1% and the Nasdaq gained around 0.5% on Tuesday, while the Dow Jones fell 190 points, as oil prices extended their decline ahead of the US midterm elections and mixed corporate updates weighed on major tech stocks. Chipmakers were among the session’s top performers, with Nvidia rising 3% after four consecutive sessions of losses, while AMD gained 5% ahead of its quarterly earnings release after the closing bell. Meanwhile, Apple shares fell 3% after warning that rising memory chip costs could pressure holiday-quarter margins. Palantir Technologies slumped 3.5%, as investors focused on slowing growth in US commercial total contract value.
Tech stocks have faced mounting pressure amid concerns over soaring AI spending and limited evidence of adequate returns. Investors also awaited the US midterm election results, with Democrats favored to regain control of the House of Representatives, while the Senate outcome remained uncertain.