Wall Street is braced for a higher opening after the US midterm elections, with markets anticipating that their resolution could revive large-scale artificial intelligence investment spending. AMD has abandoned its post-earnings surge despite confirming an excellent quarter and outperforming Intel in servers, while prohibitively expensive memory chips are curbing demand for personal computers. Arista Networks and Qnity Electronics demonstrated the strength of the artificial intelligence infrastructure, and Novo Nordisk raised its forecasts after strong demand for the Wegovy pill. CVS Health will split into two separate businesses, Bank of America downgraded Constellation Brands, and McDonald’s reported better-than-expected earnings despite quarterly revenue falling short of estimates.
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