US stock futures moved higher on Thursday as Wall Street attempted to rebound after two consecutive losing sessions, with semiconductor shares leading early gains.
Futures tied to the S&P 500 rose 0.4%, while Nasdaq-100 futures jumped 0.9%. Dow Jones Industrial Average futures edged slightly lower.
Chips drive the bounce
Semiconductor stocks surged after Taiwan Semiconductor Manufacturing Company reported a record quarter, posting a 35% jump in profit that reignited confidence in artificial intelligence spending.
TSMC shares climbed about 6% in premarket trading. Micron Technology gained roughly 3%, while Nvidia and AMD rose more than 1% each.
The gains came despite President Donald Trump signing a proclamation imposing a 25% tariff on certain semiconductors, with exemptions for chips used in building US technology supply chains.
Earnings and oil offer support
In earnings, Morgan Stanley shares rose more than 1% after beating fourth quarter expectations, while Goldman Sachs dipped slightly despite topping profit estimates.
A sharp pullback in oil prices also helped sentiment. Brent crude and US benchmark WTI slid nearly 3%, easing inflation and geopolitical concerns.
Markets steady after volatile week
Wall Street is coming off a tech-led selloff, triggered in part by reports that Chinese customs authorities blocked imports of Nvidia’s H200 chips. Investor sentiment had also been shaken by rising US Iran tensions, though oil prices retreated after Trump signalled he may not pursue military action.
For now, stronger chip earnings and easing energy prices are giving markets room to stabilize as investors look ahead to the next wave of economic data and earnings reports.
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