U.S. stock futures rise after AI rout batters Wall St; payrolls data in focus

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U.S. stock futures rise after AI rout batters Wall St; payrolls data in focus Ambar Warrick Thu, November 5, 2026 at 8:38 PM EST 3 min read NVDA -7.49% ^GSPC -4.36% ^NDX -6.36% ^DJI -3.44% NDX Investing.com-- U.S. stock index futures firmed on Thursday evening, heralding some recovery after increasing doubts over the AI trade in a Democrat-led Congress wiped out hundreds of billions from Wall Street. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Focus was now on upcoming labor market data for more cues on the economy and interest rates, with markets also on guard over any more hawkish signals for the Federal Reserve. S&P 500 Futures rose 0.26% to 7,402.0 points by 19:39 ET (00:39 GMT). Nasdaq 100 Futures rose 0.83% to 26,970.50 points, while Dow Jones Futures fell 0.15% to 51,537.0 points. Futures remained skittish after Wall Street suffered its worst day in nearly 19 months on Thursday, battered chiefly by a major wipeout in high-flying technology and artificial intelligence stocks. Chipmakers were by far the worst hit, with the Philadelphia Semiconductor Index sliding 12.25% for the day. NVIDIA Corporation (NASDAQ:NVDA), which recently relinquished its title as the world's most valuable listed company, slumped nearly 10% on Thursday, while rival AMD (NASDAQ:AMD) slid 17%. Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), Amazon.com Inc (NASDAQ:AMZN), and Alphabet Inc (NASDAQ:GOOGL)– all of which are heavily exposed to data center spending– fell between 2% and 4%, while iPhone maker Apple Inc (NASDAQ:AAPL) performed relatively better with a 1.5% drop. The Democratic Party's sweep of the midterm elections– where it secured majorities in both chambers of Congress– sparked heightened concerns over more regulatory scrutiny towards AI development and data center construction. Unsure what to buy ahead of earnings? Our AI's recent pre-earnings calls delivered gains of +77% to +118% after results dropped. See this month's earnings picks » Texas Governor-Elect, Democrat Gina Hinojosa, called for a pause on any new data center construction until there were laws to protect citizens in place. Her comments reflected a broader rhetoric among Democratic lawmakers, especially amid growing voter pushback against more data center construction across the country. The development came amid already growing doubts over the long-term feasibility of AI, after a host of middling September quarter earnings from Wall Street's biggest firms pointed to uncertain returns on their massive AI investments. Separately, reports said AI major Anthropic was facing increased investor scrutiny over its plans to publicly list later this month, with Reuters reporting that the startup could potentially delay a listing. The NASDAQ Composite slumped 5.5% on Thursday, the S&P 500 fell 4.4%, and the Dow Jones Industrial Average shed 3.4%. The Dow took some support from flows into non-tech, defensive sectors like utilities and consumer staples. Beyond the AI rout, focus on Friday will be squarely on key labor data that is likely to factor into the Federal Reserve's plans for interest rates. Nonfarm payrolls data for September is due Friday morning, and is expected to show a pickup in jobs growth from the prior month. Any signs of resilience in the labor market give the Fed more headroom to hike interest rates– a scenario that could herald more pain for Wall Street. The Fed raised rates by 25 basis points in September, with policymakers indicating that sticky inflation was likely to elicit more hikes. U.S. stock futures rise after AI rout batters Wall St; payrolls data in focus Massive market rotation raises question: Is the sell-AI trade here to stay? South Korea's KOSPI halts trade after 8% wipeout on AI losses

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