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 for the 30-stock index waned 300 points, or 0.6%, to open Tuesday at 51,833.
Futures for the S&P 500 backed away 2.25 points to 7,572,25
Futures for the NASDAQ Composite picked up 105.50 points, or 0.4%, at 28,233.
Apple shares were down 4% after the consumer tech giant rolled out a disappointing margin forecast and iPad sales in the fiscal fourth quarter missed the Street’s estimates.
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 selloff 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 health-care.
In Hong Kong, the Hang Seng gained 0.6%, while Japanese markets were closed for holiday.
Oil prices jumped 82 cents to $97.28 U.S. a barrel.
Gold prices faded $44.00 to $3,925.60 U.S an ounce.
