Stock futures reverse early losses after Democrats’ midterm sweep
U.S. stock futures rose early Wednesday, reversing sharp overnight losses, as investors weighed Democrats winning control of Congress, Reuters reported. Futures tied to the Dow were up about 1.4%, CNBC reported.
The swing: Nasdaq-100 futures fell as much as 2.4% and S&P 500 futures as much as 1.4% after the results, before recovering, Reuters reported. By about 5:44 a.m. ET, Dow futures were up 724 points and S&P 500 and Nasdaq-100 futures were each up about 1%, CNBC reported.
Why: Reuters said investors were weighing the chance of tougher regulation, higher taxes and more oversight of areas such as AI and crypto. CNBC noted Texas Democratic governor candidate Gina Hinojosa, projected winner by the AP, has pledged a moratorium on data centers.
Also moving: AMD shares rose in extended trading after a strong 2027 forecast, Investing.com reported. Futures are not the market open, and early moves can reverse.