The S&P 500 and the Nasdaq opened higher on Tuesday as oil prices fell ahead of the US midterm elections. Apple's results failed to impress investors, and the Dow Jones Industrial Average opened lower.
On Tuesday, the S&P 500 and the Nasdaq opened higher as crude oil prices fell further heading into the US midterm elections. Apple joined the list of Big Tech companies whose results failed to impress investors, according to Reuters.
At the open, the Dow Jones Industrial Average fell 206.75 points, or 0.40%, at the open to 51,777.23. The S&P 500 rose 7.77 points, or 0.10%, to 7,549.17, while the Nasdaq Composite rose 98.65 points, or 0.39%, to 25,263.01 at the opening bell.
Coinpedia reports that investors bought back into technology stocks. The Nasdaq Composite gained 0.4% on Tuesday, and the Nasdaq-100 added 0.5% but remains in a correction, more than 10% below its recent peak.
Chipmakers led the recovery, according to Coinpedia. Micron climbed 4%, and Nvidia, AMD, Broadcom and Intel each rose about 3%. Apple, by contrast, slid 3% on a weak margin outlook and soft iPad sales.
Oil, meanwhile, eased on hopes of progress in US-Iran talks, Coinpedia says. Brent fell 1% to near $103, and US crude slipped below $95.
Election outcomes could move markets next. Prediction markets give Democrats about a 75% chance of winning the Senate, Coinpedia reports. A Democratic sweep could hit AI stocks on Wednesday, while a Republican hold may lift markets.
Sources: Reuters via Investing.com, Coinpedia
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