US stock futures volatile as Apple shares slide 4.5%
US stock futures were all over the place on Tuesday after Apple's shares slid 4.5% before the market opened.
Even though Apple beat earnings expectations thanks to solid iPhone sales, it warned that rising memory chip costs could put pressure on its profit margins during the holiday quarter.
Dow E-minis fell 219 points, while Nasdaq-100 E-minis gained 130.5 points.
Investors cautious over midterms and AI
Investors are also keeping an eye on the midterm elections, which might shift control in Congress and make future spending plans trickier.
There's some nervousness about big bets on AI that aren't paying off yet, pushing tech stocks into correction territory.
On top of that, tensions between the US and Iran and higher oil prices are making everyone a bit more cautious about where things go next.