Nasdaq extends gains to 1%.

ARAMCO CEO says company stands ready to quickly raise output if needed.

Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, told CNBC on Tuesday he expects President Trump to suffer a "crushing" defeat in the midterm elections and that Trump is aware of it. Scaramucci said the midterms are effectively a one-time referendum on presidential approval and that voters are dissatisfied. He added Trump has not delivered on pledges to make living costs affordable, avoid open-ended wars, or release the Epstein files, and that many within the MAGA camp are drifting away.