U.S. stock futures turn positive as Democrats sweep to power in Congress
Summary
U.S. stock futures moved into positive territory following the recent congressional elections. The shift occurred after the Democratic Party secured victories across both chambers of Congress.
Our Take
The first reaction was fear: Nasdaq-100 futures fell as much as 2.4% overnight as Democrats took both the House and the Senate. By morning the market had changed its mind, with the Dow leading and SPY up about 1% premarket near $762. The logic is simple: a divided government usually means gridlock, and gridlock means fewer policy surprises. The tax law and tariffs already in place don't disappear. But the rotation underneath matters more than the index. Clean energy is ripping (ICLN up nearly 5% premarket), gold is bid, and names tied closely to the administration are getting hit, with Tesla down about 5.5% before the bell. AI data center stocks now face a new risk in the form of tougher scrutiny on power use and permits. For traders, watch whether SPY holds the $755–$757 area (Tuesday's high) after the open. Holding it keeps the relief rally intact; losing it puts the overnight lows back in play. Expect sector rotation today, not a one-way market.
Opinion of Tech & Money Press. Not financial advice.
Source: Read the full story at Stock Market News