The Nasdaq Composite rose on Tuesday as investors moved back into key technology stocks after recent pressure and geared up for U.S. midterm election results.
The tech-heavy index jumped 0.8%, recouping some of its latest losses. The Nasdaq-100 also rose 0.6% but still traded in correction territory, still down more than 10% from its recent high. The S&P 500 climbed 0.4%, while the Dow Jones Industrial Average traded down 217 points, or 0.4%, weighed down by Apple shares.
Apple fell 2% after the iPhone maker issued a disappointing margin forecast late Monday and iPad sales in the fiscal fourth-quarter missed the Street's estimates.
Conversely, shares of chipmakers saw gains. Advanced Micro Devices — which releases its third-quarter results after the bell — gained 4%, while Broadcom rose more than 3% and Micron Technology, Nvidia and Intel each gained nearly 3%.
Tuesday's advance marks a reversal from the pullback seen Monday, which sent the Nasdaq down more than 1% and extended a recent retreat in the Nasdaq Composite and S&P 500 to a third day.