U.S. stock futures inched higher Thursday evening, extending Wall Street's second consecutive day of gains as investors processed President Donald Trump's decision to ease tariff threats against the European Union. The catalyst? A framework agreement that apparently gives the United States expanded access to Greenland.
By late evening, S&P 500 Futures had climbed 0.12% to 6,953.50, adding 8.50 points. Nasdaq Futures gained 0.06%, up 16.00 points to 25,677.75, while Dow Futures rose 25.00 points, or 0.05%, to 49,583.00.
Trump announced Thursday that he'd secured what he called "total" and permanent U.S. access to Greenland through a deal with NATO, according to Reuters. That's quite the pivot from the tensions that had been rattling markets for weeks.
Markets on both sides of the Atlantic bounced on the news, but here's the thing: analysts are increasingly concerned about the longer-term fallout. Even with the immediate crisis defused, questions are mounting about whether the past few weeks of diplomatic theater have left lasting scars on U.S.-EU relations and business confidence.
Asian markets opened Friday in positive territory, with Japan's Nikkei 225 up 0.29% to 53,845.49, led by mining, entertainment and banking stocks.
But the real story might be in precious metals. Despite the easing geopolitical tensions, gold and silver kept climbing. Gold spot prices surged 2.30% to $4,945.68 per ounce, while silver jumped 2.11% to $98.23 per ounce. When safe-haven assets rally even as risks appear to diminish, it suggests investors aren't entirely convinced the storm has passed.
The U.S. Dollar Index edged up 0.06% to 98.321 against major currencies, though concerns persist about weakening demand for dollar-denominated assets.
Looking ahead to Friday, investors will be watching earnings from Booz Allen Hamilton Holding Corp. (BAH) and SLB N.V. (SLB), along with key economic data including the final Consumer Sentiment report, S&P Flash U.S. Services PMI, and S&P flash U.S. manufacturing PMI.
