US Futures Slip as Elections and AMD Earnings Loom
US stock futures were mixed on Tuesday as investors weighed midterm election uncertainty, AI spending concerns and upcoming AMD earnings. Dow futures fell about 0.7%, S&P 500 futures lost 0.2%, while Nasdaq-100 futures edged higher. The Nasdaq 100 had entered correction territory after falling 10.4% from its October record.
Apple shares dropped about 4.5% in premarket trading despite record quarterly revenue of $114.48 billion, as investors focused on rising memory-chip costs and potential pressure on holiday-quarter margins. Palantir fell about 6.3% despite better-than-expected results and an upgraded revenue outlook; slower growth in US commercial contract value raised questions about the durability of its AI-driven expansion.
The selloff reflects broader concerns that large technology companies may not earn sufficient returns on heavy AI infrastructure spending. The 10-year Treasury yield was near 4.94%, adding pressure to technology valuations and financing costs. Investors were also watching the US midterm elections and AMD’s results after the closing bell for signals about AI-chip demand and market sentiment.
Bearish
The article points to a near-term risk-off backdrop that could weigh on crypto trading, even though it does not report a direct cryptocurrency catalyst. Weakness in major technology shares, concerns about the returns on AI investment and a 10-year Treasury yield near 4.94% may reduce appetite for volatile assets. Election uncertainty and AMD’s earnings add potential catalysts for sharp moves in equities and, by association, crypto markets.
In the short term, traders may respond to further tech-sector losses or rising yields by reducing exposure to Bitcoin and other risk assets, increasing volatility and sensitivity to macro headlines. Similar episodes of equity-market stress have often coincided with crypto pullbacks as investors cut leverage and seek liquidity, though the relationship is not consistent and crypto-specific news can override it.
The longer-term effect is less certain. If AMD’s results support continued demand for AI chips and election uncertainty eases, risk appetite could recover. Conversely, persistent concerns about AI spending, elevated borrowing costs or tighter oversight could prolong pressure on growth assets. Overall, the news is bearish for crypto sentiment in the near term, but its impact is indirect and depends on subsequent market data and investor positioning.