U.S. Stock Futures Rise After Oil Drop and Democrats’ Midterm Wins

U.S. stock futures showed little change on Wednesday evening after a rally during regular trading, following a sharp decline in oil prices and confirmation of Democratic victories in midterm elections. Dow Jones Industrial Average futures rose by 90 points (0.2%), S&P 500 futures increased by 0.1%, while Nasdaq-100 futures remained flat. The Dow gained over 1,500 points (3%) during the day, marking its best daily performance since April 2025, and the S&P 500 advanced 1.6%. West Texas Intermediate crude futures fell more than 8%, settling at $88.12 per barrel.

After market close, Qualcomm reported earnings that beat estimates but its stock fell 6.5%. AppLovin, an AI advertising company, surged almost 24% following better-than-expected results and favorable guidance. Consumer discretionary stocks like Walmart rose, with Walmart up more than 3%. Meanwhile, concerns about data center industry policies impacted stocks such as CoreWeave, which declined due to election outcomes leading to regulatory restrictions in Texas.

The Democrats secured comfortable control of both the House of Representatives and Senate, along with several governorships. This political shift influenced market reactions and sector performance. Investors are expected to monitor upcoming economic data, including weekly jobless claims and the October nonfarm payrolls report, as well as earnings reports from companies like Tapestry, Kimberly-Clark, and ConocoPhillips. The midterm results and falling oil prices contributed to the market rally, but experts warn of possible volatility ahead.

This matters to investors because the clear Democratic control of Congress and lower oil prices have driven recent stock gains but may lead to policy changes affecting certain sectors and introduce volatility, especially in AI infrastructure and data center stocks.