Wall St set for higher open as Democrats win Congress; data center stocks slide
SPY•U.S. stock futures rose before Wednesday’s open after Democrats won control of both chambers of Congress, while data-center operators fell on concerns about tighter AI regulation. Dow futures rose 1.74%, S&P 500 futures 0.87% and Nasdaq 100 futures 0.23%.
1. Futures rise after election
U.S. stocks were set to open higher after Democrats secured control of the Senate and House of Representatives. Investors bet a divided Washington could limit major policy shifts; the dollar weakened against most currencies and long-dated Treasury yields moved lower.
2. Data center shares fall
Shares of data-center operators IREN, Hut 8, Applied Digital and Core Scientific fell between 5.2% and 10%. Goldman Sachs economists said Democratic wins at state and local levels are likely to lead to short-term data-center moratoria that could affect about 45% of planned U.S. capacity expansion.
3. Company moves mixed
Amazon rose 3.7%, while Tesla fell 4.7% and SpaceX fell 6.5%. AMD shares were flat after the chipmaker forecast faster-than-expected growth in 2027; McDonald’s gained 2.1% after beating quarterly profit estimates, and Block rose 9.7% after raising its full-year gross profit outlook.
