U.S. stock futures edged higher after a bruising week for Wall Street, as investors looked ahead to major earnings, economic data, and the Nov. 3 midterm elections. Oil prices fell on hopes of progress in US-Iran negotiations.

  • Oil prices dropped more than 4% as hopes for diplomatic progress between the U.S. and Iran eased concerns about potential supply disruptions.
  • Apple and Palantir were in focus ahead of their quarterly results after Monday’s close, with investors watching Apple's product strategy and Palantir's AI-driven growth.
  • Investors will also be tracking Monday's Manufacturing PMI and ISM Manufacturing PMI releases, with the US midterm elections scheduled for Nov. 3.

U.S. stock futures edged higher early on Monday, recovering some ground after Wall Street ended the previous week in the red. Investors are gearing up for a busy week featuring corporate earnings, important jobs data and the U.S. midterm elections on Nov. 3. S&P 500 futures rose 0.5%, while Nasdaq-100 futures gained 0.83%. Dow Jones Industrial Average futures added 0.5%.

Earlier, on Friday, U.S. stock indices closed lower, with the S&P 500 and Nasdaq ending October in negative territory as investors pulled back from technology and AI-related stocks. Disappointing third-quarter earnings from many companies and concerns that rising AI capital expenditure could strain cash flows weighed on sentiment. 

The S&P 500 fell 2% on Friday, while the Nasdaq 100 dropped 3.5% and the Dow Jones Industrial Average slipped 1.1%. The Russell 2000, which tracks small-cap stocks, declined 1.7%. The Nasdaq 100 lost around 6.5% in October, marking its worst monthly performance since March 2025.

Oil Prices Slide As US-Iran Peace Hopes Ease Supply Fears

Oil prices fell more than 4% on Monday as optimism over diplomatic efforts to end the U.S.-Israeli war with Iran eased immediate concerns about potential supply disruptions. Brent crude futures for January delivery dropped 4.21% to $108.66 a barrel by 5 a.m. ET, while US West Texas Intermediate (WTI) futures declined 4.1% to $99.85 a barrel. The pullback followed strong gains in recent sessions, with no major escalation over the weekend and continued negotiations prompting some investors to book profits.

The Tech Radar

Apple (AAPL): The stock slipped 0.52% in premarket trading on Monday as investors awaited the company’s fiscal fourth-quarter results, due after the closing bell. The report will be Apple’s first under new CEO John Ternus and comes after a major product push that included the unveiling of a foldable iPhone and touchscreen MacBooks, both of which have received mixed reviews. Investors will also watch for details on how Apple plans to absorb higher memory costs without passing them on to consumers or hurting demand. Questions over hinge and screen issues affecting the new iPhone Duo are also likely to feature, despite longer delivery times suggesting strong interest in the device.

Palantir Technologies (PLTR): Shares gained 1.3% in premarket trading on Monday ahead of the company’s third-quarter results, due after the closing bell. The earnings report will test investor confidence in the durability of its AI-driven growth, even as analysts anticipate another strong quarter. Revenue is expected to climb 85% year over year to $2.18 billion, slowing from the 93% growth recorded in the second quarter, while adjusted earnings are forecast to rise 94% to $0.41 per share, according to Koyfin. PLTR has also shown relative resilience amid October’s retreat in AI-linked stocks. After reaching a record high early in the month, the shares ended October down just 1.5%.

Alphabet (GOOGL): Shares were up 1.33% in early premarket trading, attempting to recover after a steep weekly decline. The stock fell 12.6% last week, marking its sharpest weekly drop since 2008. Dan Niles of Niles Investment Management said recent Big Tech earnings had exposed the risks posed by AI, describing the results as “more trick than treat for technology investors.” He pointed to Alphabet’s Search revenue missing estimates for a second consecutive quarter, alongside the company’s first misses on both total revenue and EPS since late 2022, as factors fuelling concerns about AI-driven disruption to its core business. However, Search queries reached a five-year high, and Niles sees Google as a potential consumer AI winner, citing its distribution through Android devices.

Alphabet also launched its second euro bond sale of the year, gauging investor appetite less than a week after disappointing third-quarter results triggered a record slump in its shares and widened credit spreads across the technology sector.

Intel (INTC): Shares rose 0.8% in premarket trading on Monday, following a 24% plunge last week after the chipmaker issued a weaker-than-expected fourth-quarter outlook. The decline came despite a strong third quarter, with revenue climbing 21% year over year to $16.5 billion and adjusted earnings beating estimates at $0.52 per share. However, Intel warned that supply constraints and softer PC demand could weigh on its performance in the coming quarter.

Trending Stocks

TG Therapeutics (TGTX): Shares rose nearly 0.82% in early premarket trading on Monday ahead of the company's third-quarter 2026 results, due before the opening bell. Analysts expect earnings of around $0.36 per share on revenue of approximately $245 million, according to Fiscal AI data. In the previous quarter, the company beat revenue estimates but missed EPS expectations, while raising its full-year guidance on the back of BRIUMVI sales. TGTX shares hit a fresh 52-week high on Friday, extending a multi-day rally ahead of the earnings announcement and amid buyout speculation.

Amgen (AMGN): The stock declined 0.04% in premarket trading on Monday ahead of the company’s earnings report, due after the market closes on Tuesday. Investors will be watching for an update on its obesity drug, MariTide. The Phase 3 Maritime program is testing the treatment for weight management, as well as cardiovascular disease, heart failure and sleep apnoea. Another trial is examining less frequent dosing, with injections every eight weeks or once a quarter for patients switching from weekly treatments such as tirzepatide or semaglutide. If approved, the longer dosing intervals could make MariTide an attractive option for patients.

Other tickers trending on Stocktwits at the time of writing included Oracle (ORCL), Wendy’s Co. (WEN), and ServiceNow (NOW), among others.

What Else To Watch On Monday 

On the earnings front, Apple (AAPL) is scheduled to report its results after Monday's closing bell. Palantir Technologies (PLTR), Roku (ROKU), and ON Semiconductor (ON) are also among the companies due to release their earnings after the market closes.

On the economic calendar, investors will track the Manufacturing PMI and ISM Manufacturing PMI releases due Monday. Both indicators offer insights into industrial activity and the broader health of the US economy.

SPY, QQQ, DIA: Retail Sentiment

Retail sentiment toward the SPDR S&P 500 ETF (SPY), which tracks the S&P 500, fell to ‘neutral’ from ‘bullish’ over the past 24 hours. Sentiment toward the Invesco QQQ Trust (QQQ), which tracks the Nasdaq 100, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) remained ‘bearish,’ unchanged during the same period.

Also read: USO, UCO Slide As Brent Retreats On US-Iran De-escalation Hopes – But Goldman Reportedly Sees Oil At $105 In December

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