Stock futures swing after Democrats win Congress
U.S. stock futures fell overnight after Democrats won both chambers of Congress, with Nasdaq-100 futures down as much as 2.4% and S&P 500 futures down 1.4%, then recovered, Reuters reports. At 3:13 a.m. Eastern, Dow futures were up 0.46%, S&P 500 futures 0.15% and Nasdaq-100 futures 0.26%. Reuters says investors are weighing tougher regulation, higher taxes and oversight of areas such as AI and cryptocurrencies.
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Why it matters
Retirement accounts and index funds track these markets. Reuters reports investors are weighing the chance of tougher regulation, higher taxes and more oversight of AI and cryptocurrencies under divided government.
What to watch
October's ADP employment report and ISM services index are scheduled for release Wednesday, November 4.
Sources
- Reuters via Yahoo Finance: US stock index futures steady as Democrats seize Congress
- Yahoo Finance live: Stock market today, Nov. 4
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