Stock Futures Mixed as Midterm Elections Get Underway

Stock futures are mixed this morning, as investors brace for today's U.S. midterm elections. Futures on the Dow Jones Industrial Average (DJI) are down triple digits, while the S&P 500 Index (SPX) sports a modest gain, and the Nasdaq-100 Index (NDX) jumps 197 points as chip stocks rebound. 

Investors are also unpacking a slew of corporate earnings reports as well, with rising oil prices adding to the uncertainty. Meanwhile, prediction markets suggest Democrats could take control of the Senate, with a potential sweep of both chambers of Congress threatening to shake up Wall Street.

Continue reading for more on today's market, including:

• Schaeffer's Senior V.P. of Research Todd Salamone says market fears may be overblown.
• Checking in with Advanced Micro Devices stock before today's report. 
• Plus, three earnings reports to unpack this morning. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw roughly 2.2 million call contracts and 1.4 million put contracts traded on Monday. The single-session equity put/call ratio rose to 0.67, while the 21-day moving average remained at 0.58. 
2. Big Tech giant Apple Inc (NASDAQ:AAPL) is down 3.8% premarket, despite beating fiscal fourth-quarter earnings and revenue expectations, as disappointing margin forecast and iPad sales weigh. Looking to pull back further from its late October record high, AAPL is coming into today with a 24.4% year-to-date lead. 
3. Palantir Technologies Inc (NASDAQ:PLTR) is also brushing off strong third-quarter results and no fewer than seven price-target hikes, trading 6.3% lower before the bell after a slowdown in U.S. commercial bookings. Should these losses hold, PLTR will drop into negative territory for 2026. 
4. Pfizer Inc (NYSE:PFE) announced better-than-expected third-quarter earnings and revenue and lifted its full-year forecast. The company also also announced that Cecile Guegan stepped in as CFO this month. Trading flat in electronic trading, PFE is up 23.2% since the start of the year. 
5. There is plenty more economic data due out this week. 

Hong Kong's GDP Rises for 15th-Straight Quarter

Stocks in Asia closed mixed as AI concerns continued to grow. In Hong Kong, third-quarter gross domestic product (GDP) data grew by 5.2% year over year, besting forecasts of 3.6% and rising for a 15th-straight quarter. In response, the region’s Hang Seng rose 0.6%. Elsewhere, Japan’s Nikkei slipped 0.3%, China’s Shanghai Composite lost 0.8%, and South Korea’s Kospi tumbled 3.6%, as a selloff in SK Hynix (SKHY) weighed on the index.

European markets are trading lower as inflation fears rise and traders look to the Bank of England’s (BoE) interest rate decision, due out Thursday, Nov. 5. Tech is also dragging sentiment, with London’s FTSE 100 off 0.6%, Germany’s DAX 0.4% lower, and France’s CAC 40 slipping 0.07% at last glance.