Wall St futures jump as Democrats sweep midterms
SPY•U.S. stock index futures rallied after Democrats swept the midterm elections, with Dow futures up 1.44%, S&P 500 futures up 1.04% and Nasdaq 100 futures up 0.93%. Investors bet divided government could limit sharp policy shifts.
1. Futures rally
U.S. stock index futures rallied after Democrats secured control of both the Senate and House of Representatives. Investors bet divided government could limit the scope for sharp policy shifts; the dollar weakened against most currencies and long-dated Treasury yields moved lower.
2. Technology stocks diverge
Amazon.com rose about 3%, while Meta Platforms, Nvidia and Alphabet gained more than 1% each. SpaceX and Tesla fell more than 4% each. Data-center-related shares IREN, Hut 8 and Applied Digital traded lower in premarket trading as investors assessed the implications of Democratic gains in key data-center states and potential AI regulation.
3. AMD leads chip gains
AMD jumped 6.3% after forecasting faster-than-expected growth in 2027 as its data-center sales surge. Micron Technology, Broadcom and Marvell Technology rose 1% to 2%. SolarEdge Technologies gained 1.7%, First Solar rose 8.3% and Canadian Solar climbed 8.9%.
