U.S. stock futures are in the green on Thursday night, following a rally during the regular session, powered by the strong earnings performance of chipmaker Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM).
The S&P 500 Futures are up 0.15%, or 10.75 points, trading at 6,992.25, followed by Nasdaq Futures at 25,767.50, up 0.24%, or 63.25 points and finally Dow Futures, trading at 49,667.00, up 0.06% or 28 points.
Silver prices witnessed a steep pullback on Thursday, after President Donald Trump opted to hold off on imposing tariffs on critical minerals, deciding to work with trading partners instead.
The precious metal dropped nearly 7% during the day, before mounting a recovery and currently trades 2.42% below its all-time high of $93.50 per ounce earlier this week, at $91.23. Silver, tracked by the iShares Silver Trust (NYSE:SLV) is still up nearly 17% over the past five days.
COMEX Silver March futures are down 1.21% on Thursday night, trading at $91.185 per ounce.
Asian markets opened lower on Friday, with Japan’s Nikkei 225 down 0.42%, trading at 53,881.66, with ecommerce and logistics stocks leading the decline.
TSMC’s strong fourth-quarter performance has led to a rally in other Asian chipmakers, with the Taiwan Weighted Index up 1.36% in early trade, at 31,229.18.
The U.S. Dollar Index (DXY) is flat, up just 0.02%, trading at $99.170 after Trump ruled out Fed Chair Jerome Powell’s dismissal on Thursday.
Investors on Friday will be closely watching the earnings of PNC Financial Services Group Inc. (NYSE:PNC) and State Street Corp. (NYSE:STT), along with the speeches of Fed Presidents Susan Collins and Tom Barkin, followed by Vice Chair Philip Jefferson and Vice Chair for Bank Supervision Michelle Bowman.
Photo: Oselote from Shutterstock
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