Traders work at the New York Stock Exchange on Nov. 2, 2026.
NYSE
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%.
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 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.”
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.
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.