Photo: Jakub Hałun / CC BY 4.0 (archive photo)
U.S. stock futures turned higher early on Wednesday, November 4, reversing steep overnight losses as investors weighed a Democratic sweep of Congress in the midterm elections. S&P 500 futures traded at 7,622.00, up 0.3 percent, as of about 4:15 a.m. Eastern, after falling as much as 1.4 percent overnight, according to CME Group prices.
Dow futures rose 359 points, or 0.7 percent, to 52,254, after dropping nearly 1 percent, and Nasdaq 100 futures gained 0.3 percent to 28,381.50, recovering from a loss of as much as 2.4 percent.
The dollar fell about 0.6 percent against the euro, which traded at $1.1274, according to CME Group prices. The weaker dollar helped send gold above $4,000 an ounce overnight.
For people with retirement or investment accounts, the early numbers mean savings tied to the stock market steadied after a rough night, while anyone holding gold saw its price top $4,000 an ounce.
Futures had fallen sharply late Tuesday as results pointed to a Democratic sweep that will put Hakeem Jeffries in line to become House speaker.
JBizNews Desk | New York
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