Shares steady as Apple earnings near, oil eases

Asian shares were mixed on Monday as investors awaited Apple’s quarterly results, while oil prices fell amid continuing diplomatic efforts to end the US-Israeli war on Iran. Business Recorder reported that Brent crude declined 2.0% to $111.15 a barrel and US crude lost 2.3% to $101.73. The retreat came after oil had risen 13.6% in October, and followed further attacks on tankers in the Gulf.

Investors are watching Apple for earnings and possible updates on early iPhone 18 sales, with analysts expecting EPS of $2 on revenue of $113 billion. US futures gained, with the S&P 500 up 0.4% and Nasdaq futures higher by 0.8%, after the Nasdaq’s nearly 7% October decline. Elsewhere, Japan’s Nikkei slipped 0.1%, South Korea rose 0.8%, and Asia-Pacific shares excluding Japan eased 0.2%. Markets also priced a 72% probability of a quarter-point Federal Reserve rate increase in December.