U.S. stock futures rose Thursday as investors looked past the political unrest to focus instead on prospects for higher government spending.
Futures tied to the Dow Jones Industrial Average edged up 0.4%, suggesting the index of blue-chip stocks may open the session with muted gains after closing at a record high Wednesday. Contracts tied to the benchmark S&P 500 index rose 0.5%.
Futures on the Nasdaq-100 Index gained 0.8%, suggesting that technology stocks may recoup some of their losses. The sector took a beating Wednesday when investors pushed into other stocks that are more dependent on economic growth.
Investor sentiment was boosted by Democrat Jon Ossoff’s victory in the second of two Senate runoff races, which was called shortly after U.S. markets closed Wednesday. The two Georgia seats handed Democrats control of the Senate, raising the prospect of additional stimulus for the U.S. economy after President-elect Joe Biden takes office.
A joint session of Congress early Thursday morning also affirmed Mr. Biden’s defeat of President Trump, who committed to an orderly transition of power.