November 12, 2025

Markets:

Stock futures climbed Wednesday as technology shares rebounded from Tuesday’s sell-off, continuing their back-and-forth action in what’s been a volatile month for the sector.

In premarket trading, Advanced Micro Devices (AMD) jumped more than 6% after CEO Lisa Su projected that the total market for AI data center parts and systems could reach $1 trillion by 2030. Su added that “insatiable” demand for AI chips should drive strong revenue growth for AMD moving forward.

Elsewhere in tech, Nvidia rose over 1% after supplier Foxconn reported a 17% year-over-year earnings increase. Both names came under pressure Tuesday, with AMD and Nvidia dropping more than 2% and 3%, respectively, as investors questioned whether tech valuations had stretched too far after their strong run.

On the macro front, a new ADP report showed that private employers cut payrolls in October, fueling concerns about potential weakness in the labor market. The data drew extra attention given that the ongoing government shutdown has delayed several key economic releases. Lawmakers are now moving toward reopening the government, with the Senate passing a spending bill Monday that’s now in the House for a final vote.

Portfolio:

We enter today’s session holding setups in A, SOUN, ONDS, RDW, METU, and WFC.

Headline to watch:
Bessent: “Substantial tariff news coming in the next couple of days.”

We believe this could be very bullish for the markets and set the stage for a strong year-end rally. President Trump wants markets higher and rates lower — and it’s all aligning toward that goal.

Stay ready. 7,000 S&P coming.

We are about to be in full attack mode for this market…just a bit more patience.