World · Malaysia Bureau
US stocks mixed as Apple tumbles ahead of earnings report
The S&P 500 declined on Monday's opening day of November trading, with technology shares under pressure as investors awaited Apple's quarterly results. The Dow Jones Industrial Average bucked the trend with gains.
LSN Malaysia ·
US equity markets delivered mixed signals at the start of November trading, with major indices diverging as investors positioned ahead of the corporate earnings season. The S&P 500 retreated from early session gains, reversing course as the trading day progressed, while the Nasdaq also retreated from its opening strength. The Dow Jones Industrial Average, however, managed to finish in positive territory, reflecting stronger performance among large-cap industrials and other sectors. Apple shares came under particular selling pressure ahead of the technology giant's quarterly earnings report, weighing on the broader technology sector which has been a market leader this year. The weakness in mega-cap technology stocks offset strength elsewhere in the market as investors rotated positions in anticipation of earnings announcements from major corporations. The pullback in the S&P 500 and Nasdaq highlighted growing caution among market participants as the crucial final two months of the year get underway. Analysts attributed the mixed performance to profit-taking and sector rotation, with investors reassessing valuations ahead of a busy earnings calendar that will provide updated guidance on corporate profitability and economic conditions.