FX.co ★ US Futures Steady After Election Rally

US stock futures were little changed on Thursday after the major indexes logged strong gains in the previous session. A Democratic sweep in the midterm elections fueled a sharp drop in oil prices, amid hopes for a potential resolution to the conflict in the Middle East. Investors also weighed a new batch of corporate earnings: AppLovin surged more than 20% in after-hours trading after delivering stronger-than-expected quarterly results and upbeat guidance, while Qualcomm slid more than 7% despite reporting earnings that topped estimates.

In Wednesday’s regular session, the Dow jumped 3.03%, adding 1,569 points to close at a two-month high. The S&P 500 rose 1.58%, and the Nasdaq Composite gained 1.44%. Consumer discretionary, financial and real estate stocks led the advance, while energy and industrial shares lagged. Market participants are now looking ahead to Thursday’s earnings reports from ConocoPhillips, Kimberly-Clark and Airbnb.