Stock futures steady after Dow's best day since April 2025

U.S. stock futures were little changed Wednesday evening after a major rally driven by Democrats' decisive midterm wins and a sharp drop in oil prices. The Dow surged 3%, its best day since April 2025. The rally followed Democrats securing comfortable majorities in both the House and Senate, with Vice President JD Vance blaming the Iran war for Republican losses. Oil fell over 8% to $88.12 a barrel, while consumer discretionary stocks like Walmart led gains, though AI-linked names like CoreWeave declined. Post-market, Qualcomm beat estimates but fell 6.5%, while AppLovin surged nearly 24% on strong results. Investors await weekly jobless claims Thursday and October payrolls Friday, with analysts warning of potential volatility as markets digest election policy implications.