U.S. stock futures pushed higher Thursday night, riding the momentum from a regular session rally driven by impressive earnings from chipmaking giant Taiwan Semiconductor Manufacturing Co. (TSM).
The S&P 500 Futures gained 0.15%, or 10.75 points, to trade at 6,992.25. Nasdaq Futures climbed 0.24%, up 63.25 points to 25,767.50, while Dow Futures edged up 0.06%, or 28 points, to 49,667.00.
But the real action was in precious metals. Silver experienced a rollercoaster ride Thursday after President Donald Trump decided to pump the brakes on tariffs for critical minerals, opting instead to collaborate with trading partners. The precious metal tumbled nearly 7% during the session before staging a comeback.
Silver currently trades at $91.23 per ounce, sitting just 2.42% below its all-time high of $93.50 reached earlier this week. Despite the intraday volatility, the metal tracked by iShares Silver Trust (SLV) has still surged nearly 17% over the past five days. COMEX Silver March futures were down 1.21% Thursday night, trading at $91.185 per ounce.
Asian markets opened with mixed signals Friday. Japan's Nikkei 225 slipped 0.42% to 53,881.66, with ecommerce and logistics stocks weighing on the index. Meanwhile, TSMC's stellar fourth-quarter results lifted other Asian chipmakers, pushing the Taiwan Weighted Index up 1.36% in early trading to 31,229.18.
The U.S. Dollar Index (DXY) held steady, essentially flat with a 0.02% gain to $99.170, after Trump ruled out dismissing Fed Chair Jerome Powell on Thursday.
Looking ahead to Friday, investors will be tracking earnings from PNC Financial Services Group Inc. (PNC) and State Street Corp. (STT). On the policy front, expect speeches from Fed Presidents Susan Collins and Tom Barkin, followed by Vice Chair Philip Jefferson and Vice Chair for Bank Supervision Michelle Bowman.
