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LIVE MARKETS-S&P 500, Nasdaq reverse early gains to end down ahead of Apple

By Reuters News

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

S&P 500, NASDAQ REVERSE EARLY GAINS TO END DOWN AHEAD OF APPLE

The S&P 500 .SPX and Nasdaq .IXIC reversed early gains to end lower on Monday as shares of Apple fell ahead of the company's quarterly results and investors braced for Tuesday's US midterm elections. The Dow .DJI finished higher.

S&P 500 energy .SPNY dropped 4%, leading declines among sectors after a more-than-7% drop in oil prices eased price worries. Oil prices fell as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran.

The S&P 500 consumer discretionary index .SPLRCD ended 2.3% higher on the day, with lower oil prices seen as a benefit to consumers.

Apple's results follow a market selloff on Friday, led by technology-related and AI company names as recent quarterly reports revived investor worries about AI spending and sustainability of the AI trade. Apple ended down 1.8%, while the S&P 500 technology sector .SPLRCT fell 2.7% on Monday.

A number of close congressional contests Tuesday could help determine what happens in US President Donald Trump's final two years in office. Right now Trump's Republican party controls both the House and Senate.

Here is the closing market snapshot:

(Caroline Valetkevitch)

EARLIER ON LIVE MARKETS:

Q3 RESULTS SHOW US PROFIT GROWTH STRONG, BUT NO LONGER ACCELERATING CLICK HERE

WALL STREET EQUITY ALLOCATIONS REMAIN NEAR FOUR-YEAR HIGH, BOFA SAYS CLICK HERE

TECH GOLIATHS FACE 'PRISONER'S DILEMMA' AS INVESTORS TURN WARY ON AI CLICK HERE

S&P 500 COULD SEE MUTED RETURNS IN COMING MONTHS AMID AI SPENDING CONCERNS - BCACLICK HERE

RBC PICKS SMALL CAPS OVER LARGE CAPS AS VALUATIONS TURN COMPELLING CLICK HERE

US STOCK INDEX FUTURES RISE AFTER OIL DROP, RECENT EQUITY SELLOFF CLICK HERE

TARIFFS, GEOPOLITICS AND AI: WHAT IF DEMOCRATS WIN? CLICK HERE

THE BOJ ACCIDENTALLY MADE $440 BILLION IN STOCKS CLICK HERE

AI VOLATILITY IS THE NEW NORMAL, SAYS UBS CLICK HERE

STOXX DRAGGED DOWN BY WEAKER ENERGY, HEALTHCARE CLICK HERE

EUROPE BEFORE THE BELL: TECH REBOUNDS, ALSTOM SLUMPS CLICK HERE

MARKETS HOPE FOR RELIEF IN APPLE MARGINS CLICK HERE


closing snapshot https://fingfx.thomsonreuters.com/gfx/mkt/jnpwodbnypw/Pasted%20image%201793654860656.png

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