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Hello, this is Leonie Kidd with today's edition of Morning Squawk.
Investors will need to divide their attention today.
On the one hand, Apple will put pressure on the tech sector, after its disappointing margin forecast overshadowed a solid set of earnings.
But the oil trade is also heating up, with crude prices accelerating gains through overnight trade, following a surprise attack on Iran's Qeshm Island.
The nerves around AI stocks are rippling into Asian trade , with the tech-heavy South Korean and Taiwanese markets both trading sharply lower, and chip stocks down across Europe. The Nasdaq-100 closed in correction territory on Monday, more than 10% below its Oct. 6 record high.
Futures are flat , but with more action in the oil markets and midterm voting underway, it's set to be another unpredictable session.
Shares in Apple are under pressure in premarket trading, after better-than-expected revenues failed to offset a disappointing margin forecast .
Despite the strong performance across its product lines, the iPhone maker is predicting a gross margin of 45-46% as Apple reckons with the global memory chip crunch.
Iran has claimed it is ready to respond "forcefully" to U.S. strikes , after the American military reportedly launched an attack on Qeshm Island overnight.
A U.S. official told The Wall Street Journal that Washington has been carrying out "limited strikes" against the country in recent weeks. The military campaign against Iran has been kept quiet on purpose so as not to signal any intention of major combat escalation, the report said, quoting an unnamed official.
CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning.
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The midterm election is here, and CNBC has been analysing how the result could affect stocks.
CNBC's Luke Fountain has taken an in-depth look at how the election could reshape the outlook for certain companies heavily exposed to Washington, in particular defense, healthcare, crypto and AI.
North Korea denies links to Binance hack as researchers trace stolen billions
North Korea rejected allegations linking Pyongyang to the estimated $6.3 billion Binance hack, calling the accusation a "grave political provocation," according to state media.
Kim Yo Jong, sister of North Korean leader Kim Jong Un, denounced the FBI's attribution of the attack to North Korea-linked hacking group TraderTraitor, Yohnap reported Tuesday, citing the state-run Korean Central News Agency.
Blockchain analytics firms including Elliptic and Chainalysis have also linked the attack and subsequent movement of the stolen funds to North Korea-linked actors.
— CNBC's Jason Gewirtz, Robert Hum, MacKenzie Sigalos, Priyanka Salve, Jenny Lee, Eamon Javers, Megan Cassella and Garrett Downs contributed to this report.
John Melloy and Jack Sommers edited this edition.
