U.S. stock futures edged higher early Wednesday, lifted by comments from Advanced Micro Devices (AMD) CEO Lisa Su, who cited “insatiable AI demand” during the Financial Analyst Day. Additionally, investors expect the government shutdown to end as soon as this week. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.60%, 0.35%, and 0.16%, respectively, at 3:38 a.m. EST on November 12.
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During Tuesday’s regular trading session, the three major indexes closed mixed. The Dow hit a record high, rising 1.18%, helped by gains in consumer and healthcare stocks such as Walmart (WMT), McDonald’s (MCD), Eli Lilly (LLY), and Johnson & Johnson (JNJ). The S&P 500 gained 0.21%, while the Nasdaq fell 0.25% as investors sold off Nvidia (NVDA) shares following reports that SoftBank (SFTBY) sold its entire stake for $5.83 billion.
After the market closed, AMD stock jumped 4.8% following its impressive Financial Analyst Day. AMD outlined plans to lead the projected $1 trillion global computing market by 2030, targeting over 35% annual revenue growth and adjusted earnings per share above $20. Su noted that AMD will continue to focus on AI, high-performance computing, data centers, embedded systems, and gaming.
The U.S. government may reopen by the end of this week after the Senate passed a spending bill Monday night with a 60–40 vote. Eight Democrats joined Republicans in supporting the measure. While several economic reports remain pending, multiple Federal Reserve officials are expected to speak today.
As the third-quarter earnings season winds down, notable companies reporting today include Cisco (CSCO), Serve Robotics (SERV), and Circle Internet (CRCL).
Notably, the U.S. 10-year Treasury yield was down, floating near 4.09%. WTI crude oil futures were trending lower, hovering near $60.76 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,122 per ounce on Wednesday.
Elsewhere, in Europe, markets opened higher on Wednesday amid optimism surrounding the U.S. government’s budget progress and a busy day of earnings announcements.
Asia-Pacific Markets Traded Higher
Asia-Pacific markets traded mostly higher on Wednesday, tracking Wall Street gains. However, shares of Japan’s SoftBank Group fell 10% after revealing the Nvidia stock sale.
Hong Kong’s Hang Seng index gained 0.85%. In China, the Shanghai Composite dropped 0.07%, while the Shenzhen Component declined 0.67%. Meanwhile, Japan’s Nikkei advanced 0.43%, and the Topix added 1.14%.
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