US stock futures rise after midterms: Why are Dow Jones futures up nearly 800 points despite a Democratic sweep? S&P 500, Nasdaq gain as AMD and Nvidia stocks climb

US stock futures moved sharply higher today after Democrats secured control of both chambers of Congress in the 2026 midterm elections. Dow futures gained nearly 800 points, while S&P 500 and Nasdaq futures also posted strong gains as investors reacted to the election results.

Futures had fallen during early vote counting as investors considered what a Democratic victory could mean for President Donald Trump's economic policies, business regulations and the technology industry. However, markets recovered as the election outcome became clearer.

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Dow futures jump 789 points as S&P 500 and Nasdaq futures rise

The latest futures figures showed broad gains across the three major US stock indexes.

• Dow Jones futures: 52,684.00, up 789 points or 1.52%.
• S&P 500 futures: 7,680.00, up 83.25 points or 1.10%.
• Nasdaq futures: 28,579.00, up 273.25 points or 0.97%.

The gains marked a sharp recovery from the overnight decline. At around 6:02 a.m. ET, Dow futures were up approximately 801 points, or 1.6%. S&P 500 futures had gained 80 points, while Nasdaq 100 futures were higher by 286 points.

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The change in market direction suggests that investors were becoming more comfortable with the election outcome. The results had initially created concerns about possible changes in government policy. However, the removal of some political uncertainty helped futures recover.

Democrats take control of the Senate and House

The Democratic Party secured major victories in the November 3 midterm elections, winning control of both chambers of Congress, according to the Associated Press projections provided in the election results.

Democrats won 54 seats in the 100-member Senate, with two races still awaiting a final call. They also secured 228 seats in the House of Representatives, crossing the 218-seat mark required for a majority.

Several important victories helped Democrats achieve the result. James Talarico won a Senate race in Texas, a state traditionally dominated by Republicans. Abdul El-Sayed also won a closely watched Senate contest in Michigan.

Democrats flipped at least seven Senate seats previously held by Republicans.

The result represents a major setback for Trump and his party. Republicans had controlled both chambers during the first two years of Trump's second term. From January, Democrats will have a greater say in legislation, government spending and policy decisions.

However, Trump will remain president and retain his veto power. This means the election result does not automatically bring an end to his existing economic agenda.

Why did US stock futures recover after the election results?

The initial market reaction was negative. Investors were concerned that a Democratic-controlled Congress could introduce stricter rules for artificial intelligence companies and place greater restrictions on large technology businesses.

The rapid expansion of AI data centres has also become a political issue. These facilities require large amounts of electricity, land and investment. Concerns about job losses and the wider impact of artificial intelligence have added to the debate.

However, investors appeared to focus more on the removal of election uncertainty as trading progressed.

Analysts at Vital Knowledge said US equity futures had fallen as the scale of the Democratic victory became apparent but later recovered. Their assessment was that markets were responding to the fact that the results were no longer uncertain.

AMD shares lead chip stocks higher as Nvidia and Intel gain

Technology stocks were another major reason for the positive market mood. Advanced Micro Devices (AMD) rose more than 7% in premarket trading after the company issued a stronger growth outlook for 2027.

AMD expects its overall revenue to grow by more than 80% in 2027. Analysts had expected growth of around 77%, according to data cited by Reuters.

Chief Executive Lisa Su said data centre chips would account for around 80% of the company's overall sales. These products are becoming increasingly important as technology companies invest in artificial intelligence infrastructure.

The company's third-quarter profit, however, included a non-cash charge of more than $1 billion. The expense was linked to its strategy of offering warrants to OpenAI and Meta, which have committed to purchasing AMD chips.

Other semiconductor companies also moved higher following the announcement.

Nvidia shares gained 2.29% in the cited market snapshot, while Intel rose 0.97%. Broadcom advanced 3.07%. Qualcomm gained 1.45%, and Arm Holdings climbed 2.9%.

Which US stocks are moving before the market opens?

Nvidia traded at $209.50, up $2.81 or 1.36%. Intel was quoted at $60.37, down $0.18 or 0.30%, in the separate premarket snapshot.

Other notable movements included:

• AI OKTO Corp.: $13.02, up 30.33%.
• T1 Energy: $3.14, up 10.95%.
• Super Micro Computer: $34.30, up 9.28%.
• Cipher Digital: $7.37, down 9.24%.
• Space Exploration Technologies: $134.60, down 4.75%.
• Nokia: $8.72, up 2.83%.
• IREN: $23.78, down 2.78%.

Results from Arm Holdings, Qualcomm and CVS Health were due on Wednesday. Investors will be looking for signs of demand in the semiconductor industry and updates on CVS Health's reported plans to separate its pharmacy and insurance businesses.