With winning weeks for the major averages still in play, US stock futures rose late Thursday as Wall Street sought to expand on gains fuelled by strength in technology and financial firms.
Dow Jones Industrial Average (YM=F) contracts saw a slight increase of 0.1%, while S&P 500 (ES=F) and Nasdaq 100 futures (NQ=F) saw increases of 0.2%.
Stocks ended a two-day losing streak during the regular session. The majority of the day's gains were driven by semiconductor stocks following Taiwan Semiconductor Manufacturing's (TSM) impressive quarterly report, which rekindled interest in trades pertaining to artificial intelligence.
TSMC's stock increased by almost 4%, and AMD (AMD) and Nvidia (NVDA) both saw increases. Following the announcement of a trade agreement between the US and Taiwan, which calls for Taiwanese chip and technology companies to invest at least $250 billion in increasing US manufacturing capacity, sentiment also strengthened.
After financial equities surged in response to positive earnings from large banks, investors are also focusing on the banking industry.
Following the release of positive fourth-quarter earnings, Goldman Sachs (GS) and Morgan Stanley (MS) both saw increases of more than 4% and over 6%, respectively.
Friday's results schedule is highlighted by smaller banks including PNC (PNC) and Regions Financial (RF). Markets have been processing a rush of political and geopolitical news, including as tensions between Iran and Greenland and worries over the independence of the Federal Reserve, as investors approach the close of a hectic week.
Members of the Federal Reserve have been vocal this week in favor of keeping rates at present levels in an effort to fight inflation amid a legal dispute between Trump's administration and Federal Reserve Chair Jerome Powell.
With traders anticipating the central bank's first rate cut this year in June, CME FedWatch predicts a 95% likelihood that rates will stay the same this month.
In the midst of Wall Street's first period of turbulence in the new year, major indexes are expected to end the week lower despite Thursday's rise.
The Dow (^DJI) is marginally lower, the Nasdaq Composite (^IXIC) is down around 0.6%, and the S&P 500 (^GSPC) is down about 0.3% for the week.
After a fierce rally, investors grabbed profits, and the US decided not to impose import duties on vital minerals, causing silver (SI=F) to retreat from a record high.
On Thursday, the white metal dropped as much as 7.3% before making up much of the loss. Over the preceding four sessions, prices had increased by more than 20%, and on Wednesday they hit an all-time high close to $93.75. The Comex in New York saw a 1% increase in silver futures.
US President Donald Trump hinted at price floors and said he would explore bilateral talks instead of enacting broad taxes on vital commodity imports, such as silver and platinum.
After a months long investigation into whether foreign supplies constituted a threat to US national security, the judgment was made.
Some commodities, including silver, have been retained in US warehouses due to concerns about tariffs. This supported prices into 2026 and helped to a worldwide short squeeze last year.
