U.S. stock futures edged higher on Wednesday, November 12, 2025, lifted by renewed investor optimism over a potential end to the longest government shutdown in U.S. history and a bullish outlook from Advanced Micro Devices (AMD) that reignited enthusiasm for artificial intelligence (AI) stocks.
AMD shares rose 5.7% in premarket trading after the chipmaker projected its annual data center chip revenue would reach $100 billion within five years, with earnings expected to more than triple over the same period. The upbeat forecast provided a boost to sentiment in the AI sector, which has faced pressure in recent weeks.
AI Trade Rebounds After Market Volatility
Wall Street stocks came under pressure on Tuesday following news that Japan’s SoftBank Group had sold its stake in Nvidia, while AI cloud services provider CoreWeave issued a lower revenue forecast, moves that raised investor concerns about overheated valuations in the technology sector.
However, major indexes pared early losses, and the Dow Jones Industrial Average closed at a record high by the end of the session.
As of 7:10 a.m. ET, futures indicated modest gains:
- Dow E-minis were up 88 points (0.18%)
- S&P 500 E-minis rose 19.25 points (0.28%)
- Nasdaq 100 E-minis climbed 128.5 points (0.50%)
Government Shutdown Nears Resolution
Members of the U.S. House of Representatives returned to Washington on Tuesday for a crucial vote that could reopen the federal government and restore key services such as air travel safety oversight and food subsidy programs.
The vote, expected on Wednesday afternoon, would fund government agencies through a bipartisan compromise, which President Donald Trump is expected to sign into law.
The 42-day shutdown, the longest in U.S. history, has weighed on economic growth. In the absence of official data releases, both the Federal Reserve and market participants have relied on private indicators to assess the impact.
“U.S. government shutdowns have historically had only a muted market impact, so any quick shift in investor sentiment should not come as a surprise,” said analysts at UBS Global Wealth Management.
“As official economic data resumes following the reopening of the government, more evidence of a cooling labor market should clear the path for further Fed easing.”
Economic Data and Fed Outlook
Private-sector data released Tuesday pointed to persistent weakness in the labor market, with ADP reporting that private employers cut an average of 11,250 jobs per week during the four weeks ending October 25.
According to CME Group’s FedWatch Tool, traders now see a 63% probability that the Federal Reserve will cut interest rates by 25 basis points at its December policy meeting.
A series of Federal Reserve officials, including New York Fed President John Williams and Governor Christopher Waller, are scheduled to speak later in the day and could offer further clues on the outlook for monetary policy.
Earnings Season Winds Down
With the third-quarter earnings season nearing completion, 82% of the 446 companies in the S&P 500 have reported results above analyst expectations, well above the historical average of 67%, according to LSEG data.
Markets are now awaiting Nvidia’s earnings report next week, which could serve as a key test for investor sentiment toward AI-driven growth stocks that have propelled major indexes to record highs this year.
Among other notable moves:
- Tencent Music Entertainment gained 3.4% after posting solid quarterly results.
- BILL Holdings surged 11.1% after reports surfaced that the payments firm is exploring a potential sale, according to Reuters sources.
Separately, President Trump is expected to host a private dinner with top business executives, including leaders from Nasdaq and JPMorgan Chase, as part of efforts to reassure corporate America of his administration’s economic strategy.
