🔥 Bafang Evening Brief｜11.4 Democrats win both chambers; U.S. stock futures fall, then rally
After a night of election results, markets went on a roller coaster ride.
The results came in: Democrats won both the House and Senate. Nasdaq 100 futures briefly fell 2.4%, but after Trump said he accepted the results, they recovered all their losses.
📈 Futures before the open (around 9:20 a.m. ET)
Dow +2.2%, up more than 1,100 points; S&P +1.2%; Nasdaq 100 up just 0.4%
Money is flowing into traditional sectors, while tech stocks are lagging.
🗳 AI data centers took the real hit
Texas’s new governor is Democrat Hinojosa, who supports pausing construction of new data centers. Wells Fargo estimates that 27% of the computing capacity of planned data centers nationwide is in Texas.
CoreWeave and IREN fell 6%–7% premarket, Oracle dropped more than 4%, and Nvidia and Micron also weakened.
🚗 $TSLA and SpaceX both fell more than 4% premarket
Musk spent at least $474 million in this midterm election, and both his picks for Texas governor and Senate lost.
💻 $AMD posted a very strong earnings report
Revenue was $13.38 billion, up 45% year over year; adjusted earnings per share were $2.09. Both beat expectations.
Data center revenue was $8.55 billion, up 97% year over year—a record.
Fourth-quarter guidance was around $17 billion, versus the market’s original estimate of just $16.23 billion.
Shares briefly rose 8% after hours, but the election results overshadowed the report, and they turned lower again premarket.
🪙 Crypto stocks were steady by contrast: Strategy +2.3% premarket, Coinbase +1.5%. However, the CLARITY Act will likely be delayed until next year.
📅 Today’s calendar also includes ADP employment and ISM data, plus earnings from Arm, Qualcomm, Uber, and McDonald’s.
💬 Bafang’s take: AMD showed that AI demand is still there. But if data centers can’t get built, that demand can’t materialize. The election hurdle is behind us, but policy risks are only just beginning. I’m in no rush to buy the dip in the AI chain.
How will the AI chain close today—will it keep getting hammered, or will buyers step in to scoop up the dip? Share your thoughts in the comments 👇
(For informational purposes only; not investment advice.)
#美股 #中期选举 #AI
After a night of election results, markets went on a roller coaster ride.
The results came in: Democrats won both the House and Senate. Nasdaq 100 futures briefly fell 2.4%, but after Trump said he accepted the results, they recovered all their losses.
📈 Futures before the open (around 9:20 a.m. ET)
Dow +2.2%, up more than 1,100 points; S&P +1.2%; Nasdaq 100 up just 0.4%
Money is flowing into traditional sectors, while tech stocks are lagging.
🗳 AI data centers took the real hit
Texas’s new governor is Democrat Hinojosa, who supports pausing construction of new data centers. Wells Fargo estimates that 27% of the computing capacity of planned data centers nationwide is in Texas.
CoreWeave and IREN fell 6%–7% premarket, Oracle dropped more than 4%, and Nvidia and Micron also weakened.
🚗 $TSLA and SpaceX both fell more than 4% premarket
Musk spent at least $474 million in this midterm election, and both his picks for Texas governor and Senate lost.
💻 $AMD posted a very strong earnings report
Revenue was $13.38 billion, up 45% year over year; adjusted earnings per share were $2.09. Both beat expectations.
Data center revenue was $8.55 billion, up 97% year over year—a record.
Fourth-quarter guidance was around $17 billion, versus the market’s original estimate of just $16.23 billion.
Shares briefly rose 8% after hours, but the election results overshadowed the report, and they turned lower again premarket.
🪙 Crypto stocks were steady by contrast: Strategy +2.3% premarket, Coinbase +1.5%. However, the CLARITY Act will likely be delayed until next year.
📅 Today’s calendar also includes ADP employment and ISM data, plus earnings from Arm, Qualcomm, Uber, and McDonald’s.
💬 Bafang’s take: AMD showed that AI demand is still there. But if data centers can’t get built, that demand can’t materialize. The election hurdle is behind us, but policy risks are only just beginning. I’m in no rush to buy the dip in the AI chain.
How will the AI chain close today—will it keep getting hammered, or will buyers step in to scoop up the dip? Share your thoughts in the comments 👇
(For informational purposes only; not investment advice.)
#美股 #中期选举 #AI