PRE-MARKET · MON · NOV 2 · 2026 · 07:35 ET ·REGIMEELEVATED

Futures bounce after Friday's tech-led rout as oil slides 4% and Apple earnings loom

SecBot Research

01Executive Summary

US stock futures are pointing higher after Friday's sharp selloff, with the S&P 500 and Nasdaq looking to recover from a brutal October close driven by tech weakness and Intel's historic 29% crash.
Oil is tumbling more than 4% to $99.89/barrel, the first sub-$100 print in weeks, as OPEC+ held December output steady and supply-disruption fears moderate, dragging energy sector futures lower.
Apple reports fiscal Q4 earnings after today's close, the first under new CEO John Ternus, with consensus EPS of $1.98 on ~$113.3B revenue, in what is the single most important event for the tape this week.
US midterm elections are tomorrow (Tuesday Nov 3), adding a layer of political uncertainty that is keeping some institutional flows defensive; SPY saw $2.0B of outflows on Friday.
European equities are flat to slightly positive (Euro Stoxx 50 +0.06%), while Asian markets were mixed, Hang Seng +0.4%, Nikkei -0.3%, as the region digested the Iran conflict's impact on energy supply chains.

02Market Snapshot

S&P 500

7,580.07

▼ -1.82% -140.32

30D -0.93%

Nasdaq

25,437.00

▼ -2.86% -747.72

30D -5.30%

Dow Jones

51,770.31

▼ -1.09% -572.25

30D +1.70%

Russell 2000

2,811.84

▼ -1.66% -47.38

30D +0.54%

VIX

19.42

▲ +12.91% +2.22

30D +18.85%

03Sector & Breadth

Leaders

Consumer Staples (XLP)

+1.41%

Energy (XLE)

+1.91%

Utilities (XLU)

+0.67%

Laggards

Technology (XLK)

-4.89%

Communication Services (XLC)

-1.29%

Consumer Discretionary (XLY)

-0.71%

04ETF Flows

Inflows

LQD iShares iBoxx $ Investment Grade Bond ETF

+$1.39B

XLF Financial Select Sector SPDR

+$885.2M

XLV Health Care Select Sector SPDR

+$423.4M

IJR iShares Core S&P Small-Cap ETF

+$397.6M

XBI SPDR S&P Biotech ETF

+$288.0M

Outflows

SPY SPDR S&P 500 ETF Trust

-$2.04B

SMH VanEck Semiconductor ETF

-$533.6M

QQQ Invesco QQQ Trust

-$464.9M

IWM iShares Russell 2000 ETF

-$312.6M

IGV iShares Expanded Tech-Software ETF

-$286.3M

05Biggest Movers

Gainers

COST ▲ +1.63%

Costco Wholesale

Defensive buying into staples; consumer resilience play amid macro uncertainty

Losers

INTC ▼ -28.58%

Intel Corp.

Q3 earnings beat but Q4 guidance missed badly; revenue forecast $15-16B vs $17.2B consensus; multiple analyst downgrades and price-target cuts followed

AMD ▼ -10.88%

Advanced Micro Devices

Sector-wide semiconductor selloff; Intel's weak outlook dragged the entire chip complex lower

NVDA ▼ -4.22%

NVIDIA Corp.

AI/semiconductor rout accelerated; broader tech selloff ahead of midterms and Apple earnings

QQQ ▼ -3.47%

Invesco QQQ Trust

Heavy tech ETF outflows (-$465M); Nasdaq had its worst day in weeks

SPY ▼ -1.77%

SPDR S&P 500 ETF

Broad market selling with $2.0B of SPY outflows; defensive rotation into bonds and healthcare

MSFT ▼ -1.55%

Microsoft Corp.

Tech weakness dragged mega-caps lower; AI spending concerns weighed on sentiment

META ▼ -1.53%

Meta Platforms

Part of broad tech selloff; AI capex scrutiny ahead of midterms

06Key Drivers

01 Apple (AAPL) reports Q4 FY2026 earnings after the close, consensus EPS $1.98, revenue ~$113.3B; first report under new CEO John Ternus; iPhone 18 Pro/Duo demand and Services margins in focus
02 Intel (INTC) crashed 28.6% on Friday after guiding Q4 revenue 9% below consensus; the stock is stabilizing pre-market (-0.95%) but the damage to semis sentiment is broad
03 Oil (WTI) plunged 4% to $99.89, the first sub-$100 close in weeks, as OPEC+ kept December output steady and Goldman raised forecasts on supply risks; Brent fell to ~$110 from $117
04 US midterm elections are tomorrow (Tuesday Nov 3); polls suggest a potential shift in House control, driving policy uncertainty across defense, healthcare, and energy sectors
05 ISM Manufacturing PMI for October releases today at 10:00 ET, expected to show continued expansion but at a moderating pace
06 Investment-grade bonds saw massive inflows (LQD +$1.39B, HYG +$116M) as investors rotated out of equities into fixed income ahead of the election
07 Euro zone Q3 GDP slowed to 0.4% as France contracted, adding to global growth concerns
08 Gold edged higher to $3,915 (+0.4%) as the dollar softened (DXY 101.64, -0.24%) and oil's decline tempered inflation fears

07Technical Analysis

S&P 500

S&P 500 closed at 7,580.07, below its 21-day SMA (7,729.56) and 50-day SMA (7,697.08) but above the 200-day (7,309.76). RSI at 40.11 is approaching oversold. Nearest support at 7,420.81; resistance at 7,677.02. The index has lost 0.93% over 30 days and the MACD is bearish.

Nasdaq

Nasdaq closed at 25,437, well below its 21-day (26,700) and 50-day (26,574) SMAs. RSI at 34.74 is nearing oversold territory. Nearest support at 25,082; resistance at 26,553. The 30-day decline of 5.30% reflects the tech-led selloff.

VIX

VIX at 19.2 pre-market (Friday close 19.42) remains elevated above its 50-day (16.25) and 200-day (18.25) averages. The VIX technical score is +38.55 (buy signal for the VIX itself, indicating elevated fear). Nearest support 18.48, resistance 20.68.

08Cross-Market

US Treasuries

10-year yield 4.93% (-6bp from Friday's 4.99%); 2s10s spread +38bp (normal curve); TLT saw -$81M outflows

DXY 101.64 (-0.24%), dollar modestly weaker as midterm uncertainty and lower oil weigh

Commodities

WTI crude $99.89 (-4.06%), first sub-$100 since September; Gold $3,914.50 (+0.40%); Copper $6.51/lb (flat)

Europe / Asia

Euro Stoxx 50 +0.06% (6,135); FTSE 100 -0.16% (10,712); Nikkei -0.33% (63,082); Hang Seng +0.43% (23,393), Asia mixed, Europe flat

Other

Bitcoin $77,865 (+0.15%), range-bound ahead of midterms and Apple earnings

09Upcoming Calendar

Economic 2

10:00 ET

ISM Manufacturing PMI (October)

Consensus ~49.5

10:00 ET

Construction Spending (September)

Earnings 3

AAPL Apple Inc. AMC

Nov 2, 2026

EPS $1.98 · Rev $113.27B

First earnings under new CEO John Ternus; iPhone 18 Pro/Duo demand, Services revenue growth, and memory-cost margin pressure are the key swing factors for the stock and the broader tech tape

AXON Axon Enterprise

Nov 2, 2026

Q3 results; focus on TASER and cloud services revenue growth trajectory

AES AES Corp

Nov 2, 2026

Q3 results; renewable energy growth and utility-scale project pipeline in focus

Biotech Catalysts 2

QURE uniQure Inc.

BLA accepted with Priority Review

Priority Review acceptance · PDUFA May 1, 2027

Huntington's disease

If approved, AMT-130 would be the first disease-modifying treatment for Huntington's disease, a large unmet need with ~75,000 patients in the US/EU/UK

AGIO Agios Pharmaceuticals

sNDA with Priority Review

PDUFA date · PDUFA Nov 1, 2026 (past)

Sickle cell disease

FDA decision on mitapivat for sickle cell disease under accelerated approval pathway; decision was expected Nov 1

10 Stocks in Focus Quotes as of 07:31 ET

Names in focus based on expected market-moving catalysts and technical setups. Descriptive commentary only, not investment advice or a recommendation to buy or sell any security.

AAPL

Apple Inc.

▲UPSIDE High PROB EARNINGS

$344.42 ▼ -0.06% 24h

Price at report release

Watching for an upside move into and through tonight's Q4 earnings report. Consensus EPS of $1.98 on $113.3B revenue reflects steady iPhone demand and Services growth. The stock holds above its 50-day ($333) and 200-day ($297) SMAs with a technical score of +27.75 (buy) and RSI at 55.35, not stretched. Short interest is low (0.90% of shares outstanding, 3.7 days to cover). The first report under CEO John Ternus could catalyze a relief rally after tech's recent selloff if guidance supports the iPhone 18 cycle.

Resistance

$346.56+0.6% ↑

▶$344.42Now

Support

$339.87−1.3% ↓

$330.27−4.1% ↓

$319.35−7.3% ↓

XLE

Energy Select Sector SPDR

▼DOWNSIDE Moderate PROB MACRO

$69.33 ▼ -0.99% 24h

Price at report release

Setting up for a pullback as oil breaks below $100 for the first time in weeks. XLE's stochastic is deeply overbought at 96.73 and the ETF is pressing against resistance at $70.15, its 52-week high. OPEC+ held December output steady, and while the Iran/Hormuz risk remains real, today's 4% oil decline suggests some risk premium is being unwound. Watching for a break below $66.23 support to confirm the reversal.

Resistance

$70.15+1.2% ↑

▶$69.33Now

Support

$66.23−4.5% ↓

$63.38−8.6% ↓

$61.23−11.7% ↓

QURE

uniQure Inc.

▲UPSIDE Moderate PROB BIOTECH

$25.40 ▲ +2.29% 24h

Price at report release

In focus after the FDA accepted the BLA for AMT-130 (ifezuntirgene inilparvovec) with Priority Review for Huntington's disease. The stock is up 2.3% pre-market and showing a bullish MACD crossover. While the PDUFA is May 2027, the Priority Review designation and planned Advisory Committee meeting signal regulatory momentum. Nearest resistance at $25.53; a break above that level on volume would confirm the catalyst-driven move.

Resistance

$31.27+23.1% ↑

$29.21+15.0% ↑

$25.53+0.5% ↑

▶$25.40Now

Support

$24.13−5.0% ↓

$22.30−12.2% ↓

$20.93−17.6% ↓

TSEM

Tower Semiconductor

▲UPSIDE High PROB EARNINGS

$174.20 ▲ +4.64% 24h

Price at report release

Expected to extend gains after reporting Q3 revenue of $526M (above $522.1M consensus) and adjusted EPS of $1.15 (above $1.07 consensus), with Q4 guidance of $600M midpoint representing 36% YoY growth. Pre-market is +4.6%. The stock was heavily sold off (-11.4% Friday) as part of the broad semi rout, but the strong SiPho and SiGe demand outlook provides a company-specific catalyst that decouples TSEM from the sector weakness.

Resistance

$212.00+21.7% ↑

$196.51+12.8% ↑

▶$174.20Now

Support

$163.69−6.0% ↓

$153.26−12.0% ↓

$123.55−29.1% ↓

11Outlook

The pre-market tone is cautiously constructive after Friday's tech-led rout, with futures recovering as oil's sharp decline tempers inflation fears and bond yields ease. The session revolves around two binary events: Apple's Q4 earnings after the close (the most consequential single-stock catalyst of the week) and tomorrow's US midterm elections. The elevated VIX (19.2) and the $2.0B SPY outflow on Friday suggest institutional caution, but the rotation into investment-grade bonds (LQD +$1.39B) and healthcare (XLV +$423M) points to a defensive posture rather than panic. Today's ISM Manufacturing data at 10:00 ET provides the macro check. The bias is for a modest bounce in equities, but positioning is likely to remain compressed into the close as the market waits for Apple's print and the election outcome.

Important Disclosures

This report is for informational and educational purposes only. It is not investment advice, a research report within the meaning of applicable securities regulations, or a recommendation, solicitation, or offer to buy or sell any security.

References to expected price moves, support and resistance levels, or names "in focus" are descriptive observations about market conditions and expected behaviour, not directives to take a position. SecBot is not a registered investment adviser, broker-dealer, or financial planner. Past performance does not indicate future results. Any investment decisions are solely your own and you should consult a qualified financial professional who understands your individual circumstances before acting on any information herein.

SecBot and its affiliates may hold positions in securities mentioned. Figures are sourced from third-party data providers and may contain errors; readers should independently verify before relying on any specific number.