US stock index futures rise after Democrats win both House and Senate
SPY•U.S. stock index futures rose as investors weighed Democrats winning both chambers of Congress. Lower oil prices and gains in Advanced Micro Devices shares before the bell also supported sentiment.
1. Futures rise
U.S. stock index futures were higher in early Wednesday trading after Democrats won both the House and Senate in Tuesday’s midterm elections. Investors weighed the implications of the shift in Congress, while lower oil prices and gains in Advanced Micro Devices shares before the bell supported sentiment.
2. Investors weigh outcome
Investors said the change in Congress would likely complicate matters for President Donald Trump. RBC Capital Markets’ Lori Calvasina said the decisive margins in both chambers could be positive for equity markets by removing uncertainty. Annex Wealth Management’s Brian Jacobsen said gridlock was likely and noted that a Democratic Senate could block nominations to the Federal Reserve Board or Supreme Court.
