US stocks open mixed as oil prices fall ahead of midterm elections
US stock markets opened mixed on Tuesday, with the S&P 500 and Nasdaq rising as crude oil prices continued to decline ahead of the midterm elections. The Dow Jones Industrial Average fell, while Apple joined other Big Tech companies in disappointing investors.
The S&P 500 and the Nasdaq opened higher on Tuesday as crude oil prices fell further heading into the US midterm elections, while Apple joined the list of Big Tech companies whose results failed to impress investors, according to a report by The Standard.
The Dow Jones Industrial Average fell 206.75 points, or 0.40 per cent, at the open to 51,777.23. The S&P 500 rose 7.77 points, or 0.10 per cent, at the open to 7,549.17, while the Nasdaq Composite rose 98.65 points, or 0.39 per cent, to 25,263.01 at the opening bell.
The declines in crude oil prices were cited as a factor supporting the gains in the S&P 500 and Nasdaq, as lower energy costs can boost consumer spending and corporate profits. The midterm elections, which determine control of the US Congress, were also a focus for investors.
Apple's performance added to a trend of Big Tech companies failing to meet investor expectations with their recent financial results, though the report did not specify the details of Apple's results or the other companies affected.