Nvidia Up 2.9%, Apple Down 1.8% in Mixed Trading Session

The S&P 500 increased by 0.3% on Tuesday, marking a rare positive day despite a higher number of declining stocks within the index. The Dow Jones Industrial Average fell 286 points, or 0.6%, while the Nasdaq composite gained 0.7% as of 10:15 a.m. Eastern time. This mixed performance reflects ongoing volatility in technology and artificial intelligence sectors, which have experienced sharp swings over the past few days due to concerns over high valuations.

Nvidia led the market higher with a 2.9% gain, serving as the primary driver for the S&P 500's recovery. Broadcom followed with a 3.1% increase, and Advanced Micro Devices rose 4.6%. These gains in key AI infrastructure providers helped stabilize the broader market after these same stocks reversed from gains to losses the previous afternoon.

Apple Inc. experienced a 1.8% drop in its stock price, a decline that occurred despite the company reporting quarterly profit and revenue figures that exceeded analyst expectations. The company warned that it anticipates lower profit margins on each dollar of revenue for the final quarter of 2026. This guidance stems from rising costs for memory chips, which have become more expensive due to intense demand from the construction of AI data centers.

Palantir Technologies also saw its shares fall by 4.6% following a strong earnings report. The software firm noted a historic shift in its revenue base, stating that it generated more income from U.S. commercial clients than from the U.S. government for the first time. Commercial revenue from U.S. sources surged 148% compared to the same period last year.

Midterm elections held on Tuesday are contributing to market unease, although historical data suggests limited long-term impact. Brock Weimer, an analyst at Edward Jones, noted that the S&P 500 has recorded a positive return in the six months following a midterm election in every instance since 1970. Investors are monitoring the potential for a Democratic sweep of Congress, which could lead to increased regulation of AI development, though President Donald Trump retains veto power. Wall Street generally favors split congressional control, viewing it as a buffer against transformative policy changes.

Earnings results from other sectors also influenced Tuesday's trading. Celanese climbed 1.3%, and DuPont added 4.9%. Revvity posted one of the index's largest gains, jumping 11.2% after the life sciences company beat profit estimates. CEO Prahlad Singh stated that end-market conditions are continuing to improve. Stronger-than-expected profits from various firms have supported the market, helping the S&P 500 reach a record high last month despite persistent inflation and elevated interest rates.

In the bond market, the yield on the 10-year Treasury rose to 4.96% from 4.91% late Monday. This shift followed a report indicating that employers advertised more job openings at the end of September than economists had projected. In the oil market, Brent crude prices remained volatile, climbing above $107 per barrel in the morning before dropping below $101 amid continued uncertainty regarding the war in Iran. The price was last down 1.3% at $103.37.

International markets displayed mixed results. South Korea's Kospi index dropped 3.6%, one of the steepest declines globally, driven by losses in Samsung Electronics and SK Hynix. In Australia, stocks rose 0.3% following a decision by the country's central bank to raise its benchmark interest rate for the fifth time this year.