US Stock futures: S&P 500, NASDAQ and Dow Jones futures feel the heat as AMD rally keeps Wall Street at record levels

The US stock futures felt the heat on Wednesday night (November 12, 2025) following the ongoing market rotation, which powered the Dow Jones Industrial Average to fresh highs. According to CNBC, futures tied to the Dow Jones Industrial Average lost 26 points, or nearly 0.1%. The S&P futures shed 0.2%, while Nasdaq 100 futures declined about 0.3%.

Earlier in the day, Wall Street futures rose as investors were optimistic about a possible end to the longest US government shutdown. On the other hand, an upbeat earnings outlook from Advanced Micro Devices restored confidence in the AI trade that was hit recently.

AMD advanced 5.7% in premarket trading after the chip designer said it expects annual data center chip revenue of $100 billion within the next five years, and earnings to more than triple. US stocks were flat on Tuesday following the news that Japanese technology investor SoftBank Group had sold its stake in Nvidia and a forecast cut from AI cloud services provider CoreWeave raised concerns about rapidly growing valuations among tech companies.


The indexes recovered much of their earlier declines over the course of the session, with the blue-chip Dow (.DJI) finishing at an all-time high. According to Reuters, at 7:10 AM ET, Dow E-minis were up 88 points, or 0.18%, S&P 500 E-minis were up 19.25 points, or 0.28% and Nasdaq 100 E-minis were up 128.5 points, or 0.50%.

Wall Street drifts around its records

US stocks hovered near record levels during a mixed session on Wednesday. The S&P 500 added 0.1% and neared its all-time high set a couple weeks ago. The Dow Jones Industrial Average jumped 327 points, or 0.7%, to set a record for the second straight day, while the Nasdaq composite slipped 0.3%.

Advanced Micro Devices was at the front of the market. It rallied 9% after CEO Lisa Su said the chip company is expecting better than 35% of annual compounded revenue growth over the next three to five years. She credited “accelerating AI momentum,” as quoted by news agency AP.