AMD Shares Jump as Midterm Results Loom for Trump
Advanced Micro Devices shares rose after strong AI-driven earnings while U.S. stock futures held steady ahead of midterm election results.
U.S. stock index futures remained steady on Tuesday evening as investors awaited the results of the midterm elections. The outcome will determine the regulatory environment for the remainder of the term for Donald Trump, with Democrats poised to take control of both the House of Representatives and the Senate. A Democratic majority could limit the president's legislative ability, which may lead to an increase in executive measures.
In the technology sector, Advanced Micro Devices shares rose up to 7% in aftermarket trade. The surge followed third-quarter earnings that exceeded expectations, fueled by high demand for artificial intelligence. CEO Lisa Su identified data centers as the primary driver of the company's revenue and provided a fourth-quarter earnings forecast that surpassed consensus expectations.
