Stock Market Today: Dow Jones, S&P 500, Nasdaq 100 Futures Rise as Democrats Take Control of Congress—AMD, AMGN, NVO in Focus (UPDATED)
Key takeaways
- Positive earnings and job growth lift tech names, but a Democratic Congress historically dampens long‑term returns.
- ADP added 86,000 jobs in October
- 10‑year Treasury yield 4.93%
- 2‑year Treasury yield 4.61%
What happened
U.S. stock futures rose on Wednesday as Democrats gained control of both chambers of Congress, while the Dow, S&P 500 and Nasdaq 100 futures all climbed. The ADP employment report showed private‑sector hiring added 86,000 jobs in October, and the trade deficit narrowed to $105.0 billion in September. Tech names AMD, AMGN, ANET and NVO all reported better‑than‑expected earnings, lifting their shares in pre‑market trading.
Why it matters
The shift to a Democratic Congress is historically linked to lower market returns, but the day’s positive earnings and job data are lifting sentiment. The ADP figure suggests labor market resilience, while the trade deficit shrink signals stronger exports. The earnings beat from AMD, AMGN, ANET and NVO supports a…
Short-term and longer-term
Short-term. In the next 24–48 hours, watch the Nasdaq 100 and tech ETFs for momentum.
Longer-term. Over the coming months, the Democratic Congress may weigh on long‑term equity returns, but strong earnings and a narrowing trade deficit could support a resilient tech sector.
Words on this card
- ADP employment report
- A private‑sector job growth estimate released monthly by ADP, often used as a leading indicator of overall employment trends.
- Trade deficit
- The difference between a country’s imports and exports; a smaller deficit means exports are growing faster than imports.
- Treasury yield
- The return investors earn on U.S. government bonds; higher yields generally mean higher borrowing costs.
- Earnings per share (EPS)
- A company’s profit divided by its shares outstanding, used to gauge profitability.
- Futures
- Contracts that allow investors to bet on the future price of an index or commodity.
- Earnings Learn
- A company’s results report — usually profit and sales for a quarter, plus any update on what comes next.