Wall Street futures were steady on Tuesday evening as investors awaited a congressional vote on a bill to reopen the U.S. government, while AMD shares surged sharply after the company unveiled ambitious goals for the next five years.
Futures remained stable following a generally positive session on Wall Street, although losses in Nvidia limited overall gains. Stocks outside the technology sector outperformed, supported by optimism surrounding the potential reopening of the government.
AMD shares rose about 4% in after-hours trading after the company announced that it expects its annual data center chip revenue to exceed $100 billion within the next five years, with profits projected to more than triple. The company also forecast that the global data center chip market will reach $1 trillion by 2030, according to CEO Lisa Su, speaking at AMD’s first analyst day in three years.
The optimism is largely driven by artificial intelligence, as demand for chips continues to rise rapidly with the expansion of the sector. AMD expects an annual growth rate of 35% across its overall business over the next three to five years, and 60% growth specifically in its data center division, with earnings projected to reach $20 per share during that period.
On the broader market level, most Wall Street indices advanced after the U.S. Senate approved a bill to end the longest government shutdown in U.S. history, which entered its 42nd day. The bill now moves to the House of Representatives, where the Republican majority has indicated it will vote in favor on Wednesday.
Ending the shutdown is expected to remove some uncertainty surrounding the U.S. economy, allowing the release of key economic indicators and easing the impact of widespread disruptions caused by furloughs across federal agencies.
The S&P 500 rose 0.2% to close at 6,846.82 points, while the Dow Jones Industrial Average outperformed with a 1.2% gain, reaching 47,927.96 points. Meanwhile, the Nasdaq Composite slipped 0.3% to 23,468.30 points, pressured mainly by Nvidia’s 2.9% decline after Japan’s SoftBank Group announced the sale of its entire stake—around 32.1 million shares valued at $5.8 billion—to free up liquidity for new investments, following stronger-than-expected third-quarter results.
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