Stock futures fall on speculation Democrats to win big in midterms, slow data center buildout: Live updates

On Tuesday evening, U.S. stock index futures exhibited minimal movement as investors awaited early results from the upcoming midterm elections. Despite this, chipmaker AMD experienced a significant rally, gaining up to 7% after reporting robust third-quarter earnings. The tech giant attributed its success to the rising demand for artificial intelligence, with CEO Lisa Su emphasizing that data centers are now the company's primary revenue driver.

AMD also projected above-consensus earnings for the fourth quarter, helping to alleviate concerns about AI demand and spending that had plagued Wall Street throughout October. While the overall market sentiment remained subdued, with the midterms widely anticipated to shape the regulatory landscape for President Donald Trump's remaining term, the Republican Party faced a challenging path due to widespread voter discontent over fuel prices, inflation, government corruption, and the ongoing war with Iran.

The Democrats were seen as likely to secure majorities in both the Senate and the House of Representatives, potentially limiting Trump's capacity to enact new legislation.