Futures Rip As Wall Street Buys The Blue Tsunami; Dollar Slides, Gold Tops $4,000 US futures are higher as dip buyers turned an overnight "blue tsunami" puke into a broad rally: Democrats swept both chambers of Congress, initially sending Nasdaq 100 futures down as much as 2.4% on fears of tighter AI regulation and a Texas data center freeze, before President Trump's conciliatory tone ( he said Democrats did "a good job" and that he can work with them ), AMD's blowout guide and the monetization of a pile of election hedges flipped futures solidly green; as a result the dollar is heading for its worst day since early September while gold blasts back above $4,000.
As of 8:15am ET, S&P futures are 0.9% higher at 7,665 while Nasdaq futures are down 0.2%, Russell 2000 futures jump 1.3% and Dow futures are up roughly 1.7%, or about 870 points, as VIX tumbles 12.8% to 18.16. Stocks rose on Tuesday ahead of the vote, with the S&P 500 snapping a three-day losing streak and semis rebounding 2.