{
  "id": 17876837,
  "title": "S&P 500 ends lower, Apple dips ahead of quarterly report",
  "url": "https://urgent.news/2026/11/02/s-p-500-ends-lower-apple-dips-ahead-of-quarterly-report-17876837",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T23:05:49.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/11/03/s-p-500-ends-lower-apple-dips-ahead-of-quarterly-report"
  },
  "original_language": "en",
  "account": "The S&P 500 closed lower on Monday as oil prices dropped due to hopes of a US-Iran peace deal. Apple shares fell before the company's quarterly earnings report, with the tech giant's stock down 1.5%. After trading, Apple reported results that exceeded expectations, mainly due to strong early demand for the iPhone 18 Pro and price hikes to counter rising memory-chip costs. Amazon shares surged 2.2%, while Tesla rose 1%. The Dow Jones Industrial Average finished higher on Monday, while the S&P 500 and Nasdaq gained on the first day of November trading. Despite October's Nasdaq fall of 5.3% due to concerns over excessive AI infrastructure spending, the market rebounded. Longbow Asset Management's Jake Dollarhide cautioned that investors should be wary of AI-related companies spending too much, as there is a point where additional expense does not generate extra shareholder value. The S&P 500 fell 0.51% to 7,541.40 points, the Nasdaq dropped 1.07% to 25,164.32 points, and the Dow Jones rose 0.41% to 51,983.98 points. Seven of the 11 S&P 500 sector indexes rose, with consumer discretionary gaining 2.25% and materials up 1.83%. The energy index fell 4%, and trading volume on US exchanges was relatively high at 18.8 billion shares. Oracle shares plummeted almost 9% after announcing a US$20 billion debt and share sale, reflecting investor worries about the feasibility of debt-funded spending amid rising interest rates. AI-focused companies faced uncertainty following Anthropic's amended IPO filing, which revealed a shrinking net loss and revenue growth ahead of a possible listing. Marvell Technology declined 13% following its US$115 billion all-stock acquisition of optical components maker Lumentum, while Intel fell 8.8%, adding to its 29% drop on Friday after reporting a quarterly revenue forecast below market estimates and a lack of positive cash flow expectations for the year. Palantir fell 3.1% ahead of its quarterly report, and AMD slipped 7.5% before its earnings report on Tuesday. S&P 500 third-quarter earnings are expected to increase by more than 30% year-over-year, largely driven by AI heavyweights, with the index currently valued at around 19 times expected earnings, its lowest valuation since 2023.",
  "summary": "The Dow finished higher on Monday, and early in the session, the S&P 500 and Nasdaq gained on the first day of trading in November.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "US stocks: S&P 500 ends down; Apple dips ahead of quarterly report",
        "url": "https://urgent.news/2026/11/02/us-stocks-s-p-500-ends-down-apple-dips-ahead-of-quarterly-report",
        "published": "2026-11-02T21:47:23.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "S&P 500 ends down; Apple dips ahead of quarterly report",
        "url": "https://urgent.news/2026/11/02/s-p-500-ends-down-apple-dips-ahead-of-quarterly-report",
        "published": "2026-11-02T21:59:49.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Stocks making the biggest moves after hours: Fabrinet, Clorox, Apple, Palantir & more",
        "url": "https://urgent.news/2026/11/02/stocks-making-the-biggest-moves-after-hours-fabrinet-clorox-apple",
        "published": "2026-11-02T22:07:09.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}