U.S. stock index futures traded mixed before the open as investors weighed Apple's (AAPL) earnings ahead of the midterm elections. Apple fell 4.5% after indicating its gross margin would remain under pressure from surging memory chip prices, even though overall revenue and iPhone sales topped expectations. Palantir (PLTR) dropped more than 5% despite adjusted earnings of $0.44 per share beating the $0.41 consensus, while Aehr Test Systems (AEHR) jumped 15.5% after posting record revenue of $33 million, up 200% from a year earlier. Oracle (ORCL) rose 0.4% after announcing plans to raise $20 billion through equity and bond offerings, and Brent crude gained more than 1.3% to $106.13 a barrel after reports of a U.S. strike on Iran's Qeshm Island.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
AAPL
▼ Likely negativeApple Inc.
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 11/02/2026 | 338.32 |
| Change that session | -1.83% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.13 |
| Change that session | -1.36% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 752.10 |
| Change that session | -0.48% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- S&P 500, Nasdaq Futures Rise Premarket After Wall Street’s Worst Week In Months: AAPL, PLTR, GOOGL, INTC, TGTX In Focus
U.S. stock futures edged higher premarket on Monday, recovering some ground after Wall Street ended the previous week in the red. S&P 500 and Nasdaq-100 futures rose 0.5% and 0.83%, after the S&P 500 fell 2% and the Nasdaq 100 dropped 3.5% on Friday as investors pulled back from tech and AI-related stocks. Oil fell more than 4% as optimism over diplomatic efforts to end the U.S.-Israeli war with Iran eased supply concerns, with Brent for January delivery down 4.21% to $108.66 a barrel and WTI down 4.1% to $99.85. Apple and Palantir report earnings after the close, while Alphabet fell 12.6% last week and Intel dropped 24% after a weaker-than-expected fourth-quarter outlook.
- S&P 500, Dow Drop As Elevated Oil Prices Stoke Inflation Fears Ahead Of Fed Meeting Next Week — AAPL, AXP, CART, UBER In Focus
The S&P 500 fell 0.5% and the Dow Jones Industrial Average dropped 1.2% on Friday as oil prices surged amid resurfacing geopolitical concerns, raising inflation and rate-hike worries ahead of the Federal Reserve's meeting next week. West Texas Intermediate rose 3.8% to $103.27 a barrel and Brent gained 3.1% to $116.72, its highest settlement since April, after reports the U.S. and Israel could be preparing fresh strikes on Iran. Market participants were betting on a 91% probability that the Fed will leave rates unchanged. Tech stocks retreated as investors weighed how surging corporate debt and elevated interest rates might affect AI-focused companies, while the Nasdaq 100 was flat. Elsewhere, Instacart (CART) is exploring a potential sale, American Express plans to cut about 5% of its global workforce, and Apple hit record highs after selling out its limited in-store iPhone Duo inventory.
- Stock Market Today, Nov. 2: Apple Stock Slides Ahead of Earnings, but Its Latest Results Tell a Different Story
Apple shares fell 1.83% to $338.32 on Monday amid a broader technology sell-off. After the close, Apple reported fiscal fourth-quarter earnings that beat expectations, with revenue of $114.5 billion and earnings of $2.10 per share, supported by strong demand for the iPhone 18. iPhone revenue rose about 17% year over year to $57.6 billion. However, gross margin fell to 47.9% from 50.1% in the previous quarter, reflecting higher component costs and a smaller benefit from tariff refunds, while sales in China and the iPad business fell short of expectations. The S&P 500 fell 0.50% to 7,542 and the Nasdaq Composite lost 1.07% to 25,164.
- Apple Earnings, Midterms, Jobs Data Put Markets To The Test: 3 Charts To Watch This Week
This week, Apple's earnings on Monday, the U.S. midterm elections on Tuesday and the jobs report on Friday will test whether last week's AI sell-off was a blip or the start of a broader pullback. Last week, Alphabet had its worst day on record, Amazon's outlook disappointed despite accelerating cloud growth, and Intel plunged nearly 29%; the S&P 500 fell 1.8% on Friday, its steepest one-day drop since June. Apple is expected to report EPS of $1.99 on revenue of $113.35 billion, with a gross margin forecast of about 47% to 48%, down from 50% last quarter. The 10-year Treasury yield is still hovering near 4.92%, and CME Fed Watch data show traders pricing roughly a 72% chance of a rate hike at the Dec. 8-9 meeting. Anthropic has also made its IPO paperwork public, with reports suggesting a listing before Thanksgiving, though no date is confirmed.
- Strong Growth Momentum and Rising Revisions Fuel Bright Earnings Outlook
According to Zacks Investment Research, 300 S&P 500 members (about 60% of the index) had reported Q3 results through October 30, with earnings up 27.1% and revenue up 14.5% year over year, and 81.7% beat EPS estimates. For the full quarter, S&P 500 earnings are expected to rise 26.6% on 13.7% higher revenue, the 8th straight quarter of double-digit earnings growth. Estimates for Q4 2026 and full-year 2027 continue to rise, although Q4 estimates have fallen since early October for 10 sectors, notably Transportation, Autos, Consumer Staples and Utilities. Tech remains the main growth driver at +43.4%, but excluding Energy cuts index growth to +21.4%, and excluding Tech to +17.7%. More than 1,400 companies are reporting this week, including Apple and Advanced Micro Devices.
- Apple Is One of the Most Profitable Businesses in the World. Here's Why the Stock Is Worth $295 a Share Right Now.
The article argues Apple is one of the world's most profitable businesses, with its shares up 1,080% over 10 years as of 21 October and a market capitalisation of 5 trillion USD. In the fiscal third quarter of 2026 (ended 27 June), Apple reported net income of 29.8 billion USD; services made up 28% of revenue with a 76% gross margin, versus 40% for products. The author notes the stock trades at 35 times forward earnings, an 81% premium to the S&P 500's 19.3, and that a forward P/E of 30 would imply a value of about 295 USD per share, 14% below the current 344 USD. The article also acknowledges the bull case that the stock deserves a high valuation given the company's quality and durable returns.
Related markets
Latest news
- Liquid Network Restores Full Bitcoin Backing Two Months After $320M Exploit
The Liquid Federation said the sidechain's Bitcoin reserves are fully restored, with 1:1 backing reestablished for all LBTC, the token representing Bitcoin on Liquid. The milestone follows the restoration of BTC-LBTC swaps several weeks earlier. In September, purported white-hat hackers withdrew about 4,000 BTC, worth around $320 million, from the federation wallet, later returning 3,400 BTC but keeping roughly 598 BTC. Blockstream CEO Adam Back shared a dashboard showing 100% backing and a reserve deficit of 0.00 BTC, though the federation did not explain how the shortfall was covered. Blockstream refused to pay a ransom for the remaining bitcoin and called the withdrawal theft, while Back urged developers to treat AI-suggested fixes with suspicion.
- VN-Index Falls Below 1,700 Points Again as Foreign Investors Extend Net Selling Streak
On November 3, the VN-Index fell 11.1 points (0.65%) to close below 1,700 points, after touching 1,713 points intraday and dipping to 1,690. Pressure came mainly from large-cap stocks, with VIC down 3.31% and taking more than 12 points off the index, while oil and gas names and BVH, PNJ and KOS also fell sharply. Steel stocks rose strongly, with HPG up 4.17%, HSG up 3.88% and NKG up 3.42%, and 152 stocks on HoSE advanced against 135 that declined. HoSE trading value fell 34% from the previous session to 10,474 billion VND, the lowest in five sessions. Foreign investors net sold nearly 500 billion VND, their eighth straight session of net selling, led by MBB (about 255 billion VND) and VCB (nearly 219 billion VND), while HPG saw net buying of over 227 billion VND.
- Russia Speeds Up Push to Seize the Entire Eastern Bank of the Dnipro River
The Telegram channel Legitimny says Ukraine faces a severe manpower shortage that could lead to the collapse of its Zaporizhzhia defenses. Orikhiv is reportedly encircled on three sides and could fall within 2-3 months. If the current advance continues, Russian forces could approach Zaporizhzhia city by summer 2027 and cut southern supply lines, reaching the Dnipro's left bank by late 2027. Ukrainian and Russian analysts also cite high casualties and reserve shortages, while drone operations may become harder in cold winter weather, potentially opening new gaps in the front line.
- Why Williams-Sonoma Stock Gained 11% in October
Williams-Sonoma (WSM) shares rose 11% in October, according to S&P Global Market Intelligence data. The market has rewarded the housewares retailer's resilience to inflation, as its upscale customers are less affected and its products are mostly lower-priced housewares rather than big-ticket furniture. In the fiscal second quarter ended Aug. 2, sales rose 6.7% on 6.2% comparable sales growth, while adjusted operating margin of 17.3% fell 0.60 percentage points and adjusted EPS of $2.10 rose 5%. The company kept its full-price strategy and raised full-year guidance, and its dividend has risen for 17 years, including a 15% increase in March, with a 1.1% yield. The stock is up 47% this year and also rose after the Federal Reserve raised rates in September.
- Not Micron. Not Sandisk. This AI Memory Stock Is the One Wall Street Is Overlooking.
Penguin Solutions (PENG) of Fremont, California, is targeting the AI 'memory wall' with CXL technology that adds memory outside the GPU, so processors spend less time waiting for data. A KV cache server shown in September pairs 3 terabytes of DDR5 with up to eight 1-terabyte CXL cards, for roughly 11 terabytes per machine. In its fiscal fourth quarter it signed six new AI infrastructure customers, four of them neoclouds, including a 36,000-GPU facility in Norway backed by a $10 billion compute contract. The article says its software and operations capabilities are hard to replicate, but its memory business is cyclical, the stock has fallen over 30% from its early-October peak, and it depends on a few large customers. The author sees the stock as overlooked and an opportunity, while noting it remains partly cyclical.
- What FedEx Holders Got Right
FedEx shares returned 58.9% over the past year, including dividends. At the start of the period the stock traded at US$254, and investors weighed a bullish Fair Value of US$320, based on integrated logistics gains and programs like DRIVE and Network 2.0, against a bearish Fair Value of US$200, based on concerns about digitalization reducing parcel volumes and rising labor and environmental costs. Actions such as the FedEx Freight spin-off and the US$1.4b sale of FedEx Supply Chain supported the efficiency case, while Amazon opening its supply chain services to third parties and FedEx closing facilities and cutting jobs kept volume and competition concerns alive. The stock now trades at US$318, above the article's more cautious Fair Value, and the current price assumes FedEx turns its AI, Dataworks and Network 2.0 programs into durable pricing power despite pressure from fuel, labor and decarbonization spending.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.