US Futures Cut Some Losses
US stock futures were mixed on Wednesday, with S&P 500 futures down 0.1% and Nasdaq 100 futures slipping 0.3%, while Dow Jones futures gained about 100 points as investors assessed the implications of the Democratic sweep of Congress.Futures pared some early losses after an initial slide as investors were said to be buying on the dip. Democrats won control of both the Senate and the House in the midterm elections. While a Democratic victory raises the prospect of tighter regulatory scrutiny, it is also seen as limiting the scope for further tax cuts and government spending. Hyperscalers were all lower in premarket trading, including Nvidia (-0.3%), Apple (-0.6%), Microsoft (-0.9%), Alphabet (-0.5%), Amazon (-0.9%), Meta (-0.5%). Tesla (-1.8%) and SpaceX (-1.8%) also booked losses. On the other hand, AMD jumped more than 5% after reporting stronger-than-expected earnings and revenue.
US stock futures were mixed on Wednesday, with S&P 500 futures down 0.1% and Nasdaq 100 futures slipping 0.3%, while Dow Jones futures gained about 100 points as investors assessed the implications of the Democratic sweep of Congress.Futures pared some early losses after an initial slide as investors were said to be buying on the dip. Democrats won control of both the Senate and the House in the midterm elections. While a Democratic victory raises the prospect of tighter regulatory scrutiny, it is also seen as limiting the scope for further tax cuts and government spending.
Hyperscalers were all lower in premarket trading, including Nvidia (-0.3%), Apple (-0.6%), Microsoft (-0.9%), Alphabet (-0.5%), Amazon (-0.9%), Meta (-0.5%). Tesla (-1.8%) and SpaceX (-1.8%) also booked losses. On the other hand, AMD jumped more than 5% after reporting stronger-than-expected earnings and revenue.