Dow Futures Look to Build on Massive Election Rally

Fintech stocks are pushing Dow Jones Industrial Average (DJI) futures up more than 350 points this morning, extending yesterday's massive post-election rally. S&P 500 Index (SPX) futures also sport modest gains, while the Nasdaq-100 Index (NDX) is down triple digits. Investors continue to rotate out of tech stocks amid concerns over increased AI regulation, following yesterday's midterm sweep by Democrats. Elsewhere, oil prices are rebounding after yesterday's sharp decline, with West Texas Intermediate (WTI) crude futures briefly climbing back above $90 per barrel.

Continue reading for more on today's market, including:

• Checking in with JFrog stock ahead of today's report. 
• Incase you missed it: 25 stocks to avoid in November. 
• Plus, three earnings reports to unpack this morning. 

5 Things You Need to Know Today

1. The Cboe Option Exchange saw a whopping 3.8 million call contracts and 1.7 million put contracts traded on Wednesday. The single-session equity put/call ratio fell to 0.44, while the 21-day moving average remained at 0.58. 
2. Shake Shack Inc (NYSE:SHAK) is up 2.4% premarket, after mixed third-quarter results, with revenue of 40 cents per share topping expectations, while revenue of $423 million slightly missed estimates. Year to date, the equity is down 10.3% heading into today, this week seeing rejection at the 180-day moving average.
3. Peloton Interactive Inc (NASDAQ:PTON) is up 6% before the bell, after a fiscal first-quarter revenue beat and strong net income, though earnings missed estimates. Should these gains hold, PTON will hit its highest trading level since August. 
4. Unity Software Inc (NYSE:U) is soaring 18% in electronic trading, after the game development company's stellar third-quarter results and current-quarter guidance. The stock is eyeing its highest open of 2026 and will take out its year-to-date deficit, should these gains hold. 
5. There is plenty more economic data due out this week. 

England Hikes Interest Rates

Asian stocks finished mixed on Thursday as investors continued to assess the market implications of this week's sweeping Democratic victories in the U.S. midterm elections. Japan’s Nikkei slid 1.8% and South Korea’s Kospi plunged 5.3%, while Hong Kong’s Hang Seng and China’s Shanghai Composite bucked the trend with gains of 3.7% and 0.1%, respectively.

European markets are trending higher as investors react to the Bank of England’s (BoE) decision to raise interest rates by 25 basis points to 4%, its first hike since 2023. Meanwhile, German industrial production rose 4.4% month over month in September, falling short of expectations. At last check, London’s FTSE 100 is up 0.6%, after earlier touching a three-month high ahead of the BoE decision. France’s CAC 40 and Germany’s DAX have added 0.8% and 0.6%, respectively.