S&P 500 futures edge higher on AMD earnings as traders await midterm results

S&P 500 futures rose 0.3% Tuesday evening as strong earnings from chipmaker Advanced Micro Devices boosted sentiment, while traders awaited results of the 2026 U.S. midterm elections. Nasdaq-100 futures gained 0.5%, though Dow futures fell 40 points. AMD shares surged double digits after reporting third-quarter earnings and revenue that beat expectations, with data center revenue nearly doubling year over year. Nvidia, Intel, and Micron also rose in sympathy. Prediction markets showed over 90% odds of Democrats winning the House and over 70% for the Senate. Investors fear a Democratic sweep could bring restrictions on data centers and reduce AI support, pressuring related stocks, though some strategists expect the broader market to benefit from strong earnings. A Republican hold could provide short-term momentum, but no races have been called yet.