US stock futures were little changed late Thursday as Wall Street looked to build on gains driven by strength in financials and technology shares, with winning weeks for the major averages still in play.
Contracts linked to the Dow Jones Industrial Average (YM=F) edged above the flatline, along with S&P 500 (ES=F) and Nasdaq 100 futures (NQ=F).
During the regular session, stocks reversed a two-day losing streak. Semiconductor stocks powered much of the day’s upside after Taiwan Semiconductor Manufacturing (TSM) delivered a strong quarterly report, reviving enthusiasm around artificial intelligence-related plays.
Shares of TSMC surged more than 4%, while Nvidia (NVDA) and AMD (AMD) also rebounded. Sentiment also improved after the US and Taiwan announced a trade agreement that will see Taiwanese chip and technology firms commit at least $250 billion toward expanding US manufacturing capacity.
Investors are also looking toward the banking sector after financial stocks rallied following upbeat earnings from major banks. Goldman Sachs (GS) rose more than 4% and Morgan Stanley (MS) jumped nearly 6% after both firms reported upbeat fourth-quarter results. Smaller banks including PNC (PNC) and Regions Financial (RF) highlight Friday’s earnings docket.
As investors move toward the end of a busy week, markets have also been digesting a flurry of political and geopolitical developments, including tensions involving Iran and Greenland and concerns surrounding the Federal Reserve’s independence.
In the midst of a legal battle between Trump’s administration and Federal Reserve Chair Jerome Powell, members of the Fed have been outspoken this week in support of maintaining rates at current levels in their bid to combat inflation. CME FedWatch has a 95% chance of rates remaining the same this month, with traders expecting the central bank’s first cut this year in June.
Despite Thursday’s rally, major indexes are on track to finish the week lower amid Wall Street’s first stretch of volatility in the new year. The S&P 500 (^GSPC) is down about 0.3% for the week, the Nasdaq Composite (^IXIC) is off roughly 0.6%, and the Dow (^DJI) is fractionally lower.
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Stock market coverage for Friday, January 16, 2026.