US stock futures rise as investors assess Democrats' midterm sweep
SPY•US stock futures reversed early losses and rose after Democrats won control of both chambers of Congress, as investors weighed the potential effects on AI regulation and spending. At 4:22 a.m. ET, Dow futures were up 0.84%, S&P 500 futures 0.35% and Nasdaq-100 futures 0.16%.
1. Futures rebound
US stock index futures rose on Wednesday after reversing sharp early losses as investors assessed Democrats’ midterm victories and the implications for AI spending and regulation. Democrats won control of both the Senate and House, while President Donald Trump said he would accept the election results.
2. AI stocks mixed
Futures had fallen as much as 2.4% for the Nasdaq-100 and 1.4% for the S&P 500 before recovering. Data-center-related shares including IREN, Hut 8 and Applied Digital declined in premarket trading, while major hyperscalers were mixed. AMD rose 6.2% after forecasting faster-than-expected growth in 2027.
3. Other market moves
Solar shares gained, including First Solar, up 8.1%, and Canadian Solar, up 7%. Yields on long-dated Treasuries moved lower as investors considered the effect of political gridlock on government spending.
