Home Depot Inc (NYSE:HD) could highlight the impact of the 2024 election, interest rate cuts and hurricanes when the company reports third-quarter financial results Tuesday, before the market opens.

Earnings Estimates: Analysts expect Home Depot to report third-quarter revenue of $39.17 billion, up from $37.71 billion in last year’s third quarter, according to data from Benzinga Pro.

Home Depot has missed analyst estimates for revenue in two straight quarters but beat estimates in six of the past 10 quarters.

Analysts expect the company to report earnings per share of $3.64, down from $3.81 in last year’s third quarter. The company has beaten analyst estimates for earnings per share in more than 10 straight quarters.

The company raised its full-year revenue guidance after second-quarter results to a year-over-year increase of 2.5% to 3.5%. Analysts and investors will closely monitor to see if the company maintains its raised guidance or raises guidance once again.

Read Also: How To Earn $500 A Month From Home Depot Stock Ahead Of Q3 Earnings

Key Items to Watch: Home improvement retail traffic may have been down in the third quarter for Home Depot, according to data from Placer.ai. The report said that home improvement and furnishing sector store visits were down 0.9% year-over-year in the third quarter.

While Harbor Freight Tools and HomeGoods saw visits up 12.9% and 8.1% year-over-year, respectively, in the third quarter, Home Depot didn’t have the same good fortunes.

The report said Home Depot visits were down 3.1% year-over-year in the third quarter, while peer Lowe’s Companies (NYSE:LOW) also saw traffic down 4.1% year-over-year. Of the 13 weeks in the quarter, the sector saw positive visit growth in six of the weeks and negative visit growth in seven of the weeks.

Another item on watch will be the average ticket size for Home Depot in the third quarter. The company saw the average ticket in the second quarter come in down 1.3% year-over-year at $88.90. Sales per retail square foot also declined 3.6% year-over-year to $660.17.

With consumers looking to make home improvements instead of moving due to higher home purchase prices and mortgage rates, Home Depot could benefit in the quarter and moving forward.

Lower interest rates could also spur an increase in demand in big-ticket purchases and home repairs.

“The underlying long-term fundamentals supporting home improvement demand are strong. During the quarter, higher interest rates and greater macro-economic uncertainty pressured consumer demand more broadly,” Home Depot CEO Ted Decker said after second-quarter earnings.

Several large-scale hurricanes did significant damage in the U.S. in recent months. Home improvement companies can sometimes see a short-term benefit as homeowners are tasked with rebuilding and making repairs after the damages.

Home Depot’s report comes a week before Lowe’s Companies is set to report for the same quarter. Lowe’s has also beaten analyst estimates for earnings per share in more than 10 straight quarters. On the revenue side of things, Lowe’s has beaten analyst estimates in only four of the past 10 quarters.

Despite the revenue misses in recent quarters, Lowe’s stock has outperformed Home Depot, with the stock up 26% year-to-date compared to a 19% gain for Home Depot stock. Both stocks have underperformed the S&P 500, which is up 26.8% year-to-date.

With Lowe’s reporting one week later, there is a good chance that Home Depot shares could be volatile this week and the following week as analysts and investors often weigh the two companies against each other.

HD Price Action: Home Depot stock is up 1.19% to $410.73 on Monday versus a 52-week trading range of $287.24 to $421.56.

Read Next:

• Jim Cramer Says Home Depot ‘Will Still Win’ Even If Fed Doesn’t Cut Rates: ‘Company’s Secular Characteristics Carry It Through The Cyclical Pain’

Photo: Shutterstock

ChatGPT parent OpenAI, Microsoft Corp (NASDAQ:MSFT), and Meta Platforms Inc (NASDAQ:META) are facing challenges as the rapid development of artificial intelligence (AI) outpaces existing evaluation methods.

Major tech firms have begun creating internal benchmarks to test their AI models’ capabilities better and address this issue. However, this approach has raised concerns within the industry about the need for standardized public evaluations, making it difficult for businesses and consumers to assess the advancements in AI technology, Financial Times reports.

Also Read: ASML’s IT Outage Affected Chipmaking Operations Worldwide

Ahmad Al-Dahle, the head of generative AI at Meta, highlighted to the Financial Times the difficulty in measuring the capabilities of the latest AI systems. This has prompted companies like Meta, OpenAI, and Microsoft to develop proprietary evaluation methods. However, this move has drawn criticism for limiting the ability to compare different AI technologies.

Traditional public benchmarks, such as Hellaswag and MMLU, utilize multiple-choice questions to test common sense and general knowledge. However, researchers argue that these methods no longer effectively gauge the reasoning capabilities of advanced AI models.

For instance, Mark Chen, senior vice president of Research at OpenAI, told the Financial Times that human-designed tests are increasingly inadequate for measuring the true capabilities of these sophisticated systems. As a result, there is a growing push within the industry to create more complex tests that better reflect real-world challenges.

The shift towards private benchmarks has sparked debate over the transparency of AI testing. Dan Hendrycks, executive director of the Center for AI Safety, told the Financial Times that with publicly available benchmarks, it becomes easier for businesses and the general public to understand the actual progress being made in AI. This lack of transparency may hinder efforts to accurately gauge how close AI models are to automating complex tasks.

Beyond internal benchmarks, external organizations have also started contributing to developing new evaluation methods. In September, Scale AI partnered with Hendrycks to launch “Humanity’s Last Exam,” a project that crowdsources complex questions from experts across various fields, requiring abstract reasoning.

Additionally, FrontierMath, a new benchmark designed by expert mathematicians, challenges even the most advanced models, with a completion rate of less than 2% on its most challenging questions.

Wedbush analyst Dan Ives projected $1 trillion in AI capital expenditure by U.S. tech giants like Microsoft, Meta, Amazon.Com Inc (NASDAQ:META), Alphabet Inc (NASDAQ:GOOG) (NASDAQ; GOOGL).

Price Actions: MSFT stock is down 0.8% at $419.17 at last check Monday. META is down 1.36%.

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• Canaan Secures Major Mining Deal With HIVE, Shares Soar On Equipment Order

Image created using artificial intelligence via Midjourney.

Gainers

Symbol	Name	Price	Change ($)	Change (%)	Volume
(NYSE:XLY)	SPDR Select Sector Fund – Consumer Discretionary	217.91	2.79	1.29	11.8K
(NYSE:XLF)	SPDR Select Sector Fund – Financial	49.68	0.49	0.99	510.3K
(NYSE:XLI)	SPDR Select Sector Fund – Industrial	142.66	0.57	0.40	7.2K
(NYSE:XLK)	SPDR Select Sector Fund – Technology	237.75	0.59	0.24	11.7K
(NYSE:XLC)	The Communication Services Select Sector SPDR Fund	96.40	0.22	0.22	517
(NYSE:XLU)	SPDR Select Sector Fund – Utilities	79.35	0.17	0.21	9.8K
(NYSE:XLV)	SPDR Select Sector Fund – Health Care	150.50	0.32	0.21	6.4K
(NYSE:XLP)	SPDR Select Sector Fund – Consumer Staples	80.91	0.09	0.11	787
(NYSE:XLB)	Materials Select Sector SPDR	94.55	0.08	0.08	249

Losers

Symbol	Name	Price	Change ($)	Change (%)	Volume
(NYSE:XLE)	SPDR Select Sector Fund – Energy Select Sector	93.67	-0.08	-0.09	24.2K

Pulled from Benzinga Pro data this sector movers alerts can help traders understand macro-level market trends. Traders often look for sector movers to provide high-level analysis on which sectors are over- or under-performing to make better investing decisions on exchange traded funds (ETFs) or individual tickers in those sectors.

To read more about sector movers, click here.

Standard Chartered projects a fourfold increase in the digital assets market cap, reaching $10 trillion by the U.S. mid-term elections in late 2026.

What Happened: According to a new note from Geoffrey Kendrick, Head of Research at Standard Chartered, this growth forecast is based on anticipated regulatory shifts following a projected Republican sweep in the recent election cycle, which could lead to mainstream adoption and real-world use cases for digital assets.

“For me, the Trump-ublican sweep means Digital Assets are finally going to come of age,” Kendrick commented, expressing confidence that favorable regulatory policies will drive adoption across the asset class. He added, “I look for the entire asset class to 4X by the time of the US mid-terms in late 2026.”

Standard Chartered highlight several factors contributing to this growth projection.

These include potential regulatory changes, such as a repeal of SAB 121 and favorable stablecoin regulations, which the bank anticipates could be enacted shortly after the new administration takes office in January 2025.

Additionally, Standard Chartered expects the SEC to adopt a softer regulatory stance on digital assets, further opening pathways for mainstream use.

Also Read: ‘The Party’s Back On’—Chainlink Co-Founder Predicts Major Crypto Growth Under Trump Presidency

The report also suggests that assets closely linked to practical, end-use cases—like Solana (CRYPTO: SOL), which the bank expects to outperform Bitcoin (CRYPTO: BTC), and Ethereum (CRYPTO: ETH)—are likely to see the most significant growth.

Kendrick sees strong growth potential for sectors like gaming, tokenization, and emerging areas such as decentralized physical infrastructure (DePIN) and consumer social, which he notes are still in early stages of development.

Furthermore, while Standard Chartered considers a U.S. Bitcoin reserve a low-probability event, it notes this move could have a significant impact on the digital assets market if implemented.

Kendrick emphasizes that the regulatory clarity and adoption policies expected from a Trump administration could lift the entire asset class, providing an environment conducive to digital assets going mainstream.

Standard Chartered reiterates its end-2025 target prices for Bitcoin at $200,000 and Ethereum at $10,000, driven by expectations of a Republican-led administration’s policies.

What’s Next: These insights into the potential trajectory of digital assets and the broader regulatory landscape will be explored further at Benzinga’s Future of Digital Assets event on Nov. 19, where industry leaders will discuss the future of cryptocurrencies amid anticipated regulatory changes.

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Image: Unsplash

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

• Guggenheim analyst Seamus Fernandez initiated coverage on Cidara Therapeutics, Inc. (NASDAQ:CDTX) with a Buy rating and announced a price target of $33. Cidara Therapeutics shares closed at $13.11 on Thursday. See how other analysts view this stock.
• RBC Capital analyst Leonid Timashev initiated coverage on Cytokinetics, Incorporated (NASDAQ:CYTK) with an Outperform rating and announced a price target of $80. Cytokinetics shares closed at $55.84 on Thursday. See how other analysts view this stock.
• Stephens & Co. analyst Sudan Loganathan initiated coverage on Immunome, Inc. (NASDAQ:IMNM) with an Overweight rating and announced a price target of $30. Immunome shares closed at $12.54 on Thursday. See how other analysts view this stock.
• Jefferies analyst Dennis Ding initiated coverage on Inhibikase Therapeutics, Inc. (NASDAQ:IKT) with a Buy rating and announced a price target of $8. Inhibikase Therapeutics shares closed at $2.78 on Thursday. See how other analysts view this stock.
• UBS analyst Ben Shelley initiated coverage on Flutter Entertainment plc (NYSE:FLUT) with a Buy rating and announced a price target of $306. Flutter Entertainment shares closed at $237.98 on Thursday. See how other analysts view this stock.

Considering buying CYTK stock? Here’s what analysts think:

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Investors with a lot of money to spend have taken a bullish stance on IonQ (NYSE:IONQ).

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with IONQ, it often means somebody knows something is about to happen.

Today, Benzinga’s options scanner spotted 16 options trades for IonQ.

This isn’t normal.

The overall sentiment of these big-money traders is split between 43% bullish and 43%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $36,225, and 15, calls, for a total amount of $729,430.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $35.0 for IonQ over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for IonQ’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across IonQ’s significant trades, within a strike price range of $7.5 to $35.0, over the past month.

IonQ Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
IONQ	CALL	TRADE	BEARISH	01/17/25	$2.75	$2.7	$2.7	$20.00	$81.0K	13.1K	1.2K
IONQ	CALL	SWEEP	BEARISH	01/17/25	$2.74	$2.68	$2.67	$20.00	$80.1K	13.1K	999
IONQ	CALL	TRADE	BEARISH	01/17/25	$2.45	$2.35	$2.35	$17.50	$74.9K	3.6K	0
IONQ	CALL	TRADE	BULLISH	01/16/26	$7.95	$6.5	$7.55	$15.00	$55.8K	3.7K	88
IONQ	CALL	SWEEP	BULLISH	12/06/24	$0.99	$0.94	$0.99	$24.00	$54.9K	2	556

About IonQ

IonQ Inc sells access to several quantum computers of various qubit capacities and is in the process of researching and developing technologies for quantum computers with increasing computational capabilities. The company currently makes access to its quantum computers available via cloud platforms and also to select customers via its own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (QCaaS). The company derives its revenue from its quantum-computing-as-a-service arrangements, consulting services related to co-developing algorithms on company’s quantum computing systems, and contracts associated with the design, development, and construction of specialized quantum computing systems together with related services.

In light of the recent options history for IonQ, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is IonQ Standing Right Now?

• With a trading volume of 40,732,501, the price of IONQ is up by 36.02%, reaching $22.38.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 111 days from now.

What Analysts Are Saying About IonQ

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.0.

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* Maintaining their stance, an analyst from Needham continues to hold a Buy rating for IonQ, targeting a price of $18.
* Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for IonQ, targeting a price of $22.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for IonQ, Benzinga Pro gives you real-time options trades alerts.

Coinbase Inc. (NASDAQ:COIN) founder Brian Armstrong issued a strong warning to lawmakers, stating that opposing cryptocurrency is now a “good way to end your career.”

What Happened: Armstrong’s comments follow election results that, according to his “reflections on the election through a crypto lens,” signal a shift in U.S. political support toward pro-crypto policies and candidates.

With 257 pro-crypto candidates elected to the House, Armstrong emphasized that anti-crypto stances no longer align with voters’ priorities, especially as citizens increasingly seek alternatives to the current financial system.

Armstrong pointed to several election outcomes as indicators of the crypto industry’s growing influence, noting that a significant factor in Ohio’s Senate race was the crypto-friendly stance of Bernie Moreno (R-Ohio), who defeated one of the industry’s most vocal opponents, Sherrod Brown (D-Ohio).

Additionally, Armstrong highlighted the “StandWithCrypto” movement, which mobilized millions of pro-crypto voters, showing the extent of support for policies favoring digital assets.

“DC received a clear message that being anti-crypto is a good way to end your career,” he said.

Also Read: Bitcoin Spot ETFs Hit $622M Inflows Following Trump Victory

Armstrong also criticized figures like Senator Elizabeth Warren (D-Mass.) and SEC Chair Gary Gensler, whom he accused of attempting to “unlawfully kill” the industry.

Reflecting on the election outcome, he argued that “the work of Senator Warren and Gary Gensler” did not resonate with voters, whom he believes desire “economic freedom” over expansive government regulation.

The Coinbase CEO sees the path ahead as one rooted in bipartisan support for crypto, with the industry committed to advancing “sensible legislation” in the U.S.

Coinbase and other crypto giants, including Andreessen Horowitz, have contributed significant funding to PACs like Fairshake, with a goal of securing pro-crypto policies and protections for the industry by the 2026 midterms.

StandWithCrypto, an advocacy group supported by Coinbase, also plans to expand its efforts, aiming for 4 million advocates by 2026 to strengthen global and domestic policy alignment for crypto.

What’s Next: The broader political environment could foster favorable policies for crypto, which industry leaders will analyze further at Benzinga’s Future of Digital Assets event on Nov. 19.

Read Next:

• Bitcoin Hits New All-Time High As Donald Trump Wins Second Term: What Now?

Image: Shutterstock

Sports betting and online gaming company DraftKings Inc (NASDAQ:DKNG) could highlight early results from the 2024 NFL season and new state legalizations when the company reports third-quarter financial results Thursday after market close.

Earnings Estimates: Analysts expect the company to report third-quarter revenue of $1.11 billion, up from last year’s third-quarter total of $789.96 million according to data from Benzinga Pro.

The company missed analyst estimates for revenue for the second quarter and two of the past three quarters, but has beaten analyst estimates for revenue in eight of the last 10 quarters overall.

Analysts expect DraftKings to report a loss of 42 cents per share in the third quarter, compared to a loss of 35 cents per share in last year’s third quarter. The company has beaten analyst estimates for earnings per share in 10 straight quarters.

Read Also: DraftKings Offers $10K In Prizes For 2024 Election Predictions: Harris, Trump Swing State Performance Among Key Questions

What Analysts Are Saying: Strong market share in the sports betting space and the potential to surprise with updated financial guidance has Bank of America analyst Shaun C. Kelley bullish on DraftKings ahead of the earnings report.

The analyst, who has a Buy rating and $50 price target, recently said revenue flowthrough for the second half of the fiscal year could be better than expected and “protect” EBITDA for fiscal 2024.

“We expect top-line growth in the fourth quarter to come in slightly below guidance driven by unfavorable hold and challenging iGaming comps,” Kelley said.

The analyst said DraftKings could also show its hold expansion similar to peer FanDuel with lower promotional spending activity.

Concerns for DraftKings in the third quarter include slower app downloads and unfavorable NFL game outcomes, Kelley added.

A near duopoly of the online sports betting space for DraftKings and FanDuel owner Flutter Entertainment (NYSE:FLUT) was highlighted by Needham analyst Bernie McTernan recently.

McTernan said the total addressable market size of the U.S. online sports betting market could “continue to surprise to the upside.”

“Scale and commitment to product leadership from FanDuel and DKNG likely keeps the OSB market dominated by these two players,” McTernan said.

A Needham survey revealed that sports bettors primarily use FanDuel and DraftKings.

“We think share can continue to ebb and flow between FanDuel and DKNG as we do not see a physical network effect in OSB meaning there is not a structural reason for dominant market share leader like digital marketplaces.”

McTernan said unless the market structure in the U.S. changes, it’s “FanDuel and DKNG at the top and then everyone else.”

FanDuel (37.8%) and DraftKings (34.8%) had a combined 73% market share in 2023. BetMGM ranks a distant third at 8.6% market share.

In the second quarter of 2024, FanDuel had a market share of 37.3% with DraftKings at 37.0%. Both BetMGM and fourth-place Caesars had lower market share in the first two quarters of 2024 compared to 2023.

Key Items to Watch: DraftKings quarterly financial results come after the start of the 2024 NFL season, which is one of the most bet on sports in the U.S. and a key to revenue and earnings for the company in the fourth quarter.

Guidance from the company and early commentary on the NFL season will be closely watched by investors.

The company announced an inaugural $1 billion share buyback in the second quarter. Investors and analysts will be watching to see if any shares were bought during the third quarter.

DraftKings acquisition of Jackpocket led to lower average revenue per monthly unique paying customer in the second quarter and could be an area to watch for investors and analysts.

As of July 25, DraftKings is live with mobile sports betting in 25 states and Washington, D.C., representing 49% of the U.S. population.

The company is live with iGaming in five states.

On Tuesday, voters in Missouri approved sports betting, becoming the 39^th state to legalize. There is no current timetable on when the state will be live, but DraftKings and FanDuel supported the ballot proposal.

Missouri is the 18^th most populous state and fourth-largest state that has not yet legalized sports betting, according to a report from Sportico.

DraftKings previously said there were 10 jurisdictions representing 12% of the U.S. population that have introduced legislation or introduced a bill for a referendum to legalize mobile sports betting.

An update on the timetable in Missouri and where other states stand could come from the company on Thursday.

DKNG Price Action: DraftKings stock was up 4.94% to $38.25 on Wednesday at market close versus a 52-week trading range of $28.69 to $49.57. DraftKings stock is up 14% year-to-date in 2024.

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Photo: Shutterstock

On CNBC’s “Mad Money Lightning Round,” Jim Cramer said he likes Broadcom Inc. (NASDAQ:AVGO).

On Tuesday, Broadcom expanded its multi-year partnership with Telia Company to advance Telia’s modernization and transformation of telecom and cloud infrastructure using VMware’s product portfolio.

SkyWater Technology, Inc. (NASDAQ:SKYT) is a “very complicated story” as the company is losing a lot of money, Cramer said.

SkyWater Technology will report its fiscal third-quarter financial results following the close of the market on Thursday, Nov. 7.

IES Holdings, Inc. (NASDAQ:IESC) is a “really good” company, Cramer said. “I think you got a great stock there.”

On Sept. 26, IES Holdings announced the appointment of John Louis Fouts to its Board of Directors.

S&P Global Inc. (NYSE:SPGI) is a buy, the “Mad Money” host said.

On Nov. 1, S&P Global said it has completed the sale of its PrimeOne business to TS Imagine, a global, cross-asset provider of trading, portfolio, and risk management solutions for financial institutions.

Cramer recommended to buy more of Merck & Co., Inc. (NYSE:MRK) shares.

On Oct. 31, Merck reported third-quarter sales of $16.66 billion, up 4% year over year and beating the consensus estimate of $16.47 billion.

Price Action:

• Broadcom shares gained 3.2% to settle at $173.90 on Tuesday.
• SkyWater Technology shares fell 0.3% to close at $9.65 on Tuesday.
• IES Holdings shares gained 3.3% to settle at $246.06 during the session.
• S&P Global gained 0.8% to settle at $489.71 on Tuesday.
• Merck shares fell 0.2% to close at $101.65.

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Image: Shutterstock

Donald Trump has been elected as the 47th president of the United States, defeating his Democratic opponent Kamala Harris. Here’s a look at where Trump stands on issues surrounding the technology sector and some of the biggest companies on Wall Street.

Tariffs: President-elect Trump has promoted tariffs of 20% on all imports coming into the country and tariffs as high as 60% on goods made in China.

Companies like Apple, Inc. (NASDAQ:AAPL) which produces most of its products in China, could be heavily impacted by higher tariffs and may pass those costs onto the consumer as a result. 

Read More: Trump Pushes Forward With Controversial Tariff Plan Despite Growing Backlash From Voters Who Strongly Oppose It

Chips: The semiconductor industry could be highly effected by Trump’s potential tariff policies. The Biden administration hiked tariffs on semiconductors imported from China with the rate set to increase to 50% by 2025. It is likely Trump will maintain this policy and perhaps hike the tariffs even higher.

The outgoing administration enacted the CHIPS and Science Act to provide funding for American research, manufacturing and workforce development aimed at boosting domestic semiconductor production. Trump has been highly critical of the CHIPS and Science Act and has suggested that implementing high tariffs would drive chip manufacturers to invest their own resources in establishing production facilities inside the U.S. 

Investors and chipmakers will be watching to see if Trump will attempt to claw back funds promised under the CHIPS Act or dismantle or reduce the program.

Trump has also been a vocal critic of Taiwan Semiconductor Manufacturing Company Ltd.’s (NYSE:TSM) planned investments in the US, particularly its $40 billion project in Arizona. Once in office, Trump could attempt to cancel or modify the subsidies that have been promised to the company through the CHIPS Act. 

Read Next: Bitcoin’s Future Under President-Elect Donald Trump: A Look At His Crypto Policies

Investors can monitor the market’s reaction to the election results through an ETF that tracks the semiconductor sector, including the iShares Semiconductor ETF (NASDAQ:SOXX) and the VanEck Semiconductor ETF (NASDAQ:SMH). 

DOJ: Under the Biden administration, the Justice Department intensified its scrutiny of major technology companies, particularly in the areas of monopolistic practices and proposed mergers and acquisitions in order to prevent further market concentration. 

Alphabet, Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google currently faces multiple antitrust cases brought by the US Department of Justice under the Biden administration and include charges of illegally monopolizing the internet search engine and advertising technology markets. 

A Trump White House — along with a Republican Senate — will likely take a more deregulatory approach to technology and AI when compared to his predecessor.

Trump has also committed to rolling back Biden’s executive order on AI regulation, which some conservatives view as government overreach.

AI hyperscalers, like Microsoft Corp. (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN) Amazon Web Services (AWS) will likely face less regulatory oversight under a Trump administration, potentially giving them more freedom in developing and deploying AI technologies.

Markets React: Stock futures are surging Wednesday morning with tech-heavy Nasdaq futures up 1.79% as investors interpret Trump’s victory as positive for the technology sector.

AAPL, TSM, GOOG, MSFT, AMZN Price Action: According to data from Benzinga Pro, Apple shares are up 0.42% at $224.40, TSMC shares are down 1.74% at $192.35, Alphabet shares are up 2.26% at $175.29, Microsoft shares are up 1.22% at $416.48 and Amazon shares are up 0.46% at $200.42 in premarket trading Wednesday.

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Image: Shutterstock