U.S. stocks ended mixed Monday, Nov. 2, as Brent crude fell and longer-dated Treasury yields declined ahead of Tuesday’s midterm elections, The Straits Times reported.
The Dow Jones Industrial Average added 0.41% to close at 51,983.98. The S&P 500 ended at 7,541.40, down 0.51%, and the Nasdaq Composite finished 1.07% lower at 25,164.32 points, The Straits Times reported.
The Straits Times linked Brent crude’s decline to Iran’s signal that it was open to negotiations. The report said energy prices had remained elevated during the eight-month Middle East conflict, adding to inflation. Longer-dated U.S. Treasury yields also moved lower.
Seven of the S&P 500’s 11 sector indexes advanced. Consumer discretionary gained 2.25% and materials rose 1.83%, while energy fell 4%, the outlet reported. LSEG data showed third-quarter earnings for S&P 500 companies on track to grow more than 30% year over year, with AI heavyweights accounting for much of the increase.
Apple released quarterly results after Monday’s session, and they topped expectations, The Straits Times reported. The shares had fallen 1.5% during regular trading before moving close to unchanged after the release. The outlet cited early interest in the iPhone 18 Pro lineup and higher prices; it also noted that memory-chip costs had risen.
The U.S. midterm elections on Tuesday, Nov. 3, will determine control of Congress, according to the report. Republicans held both chambers during the first two years of President Donald Trump’s latest term.
