U.S. stock futures presented a mixed picture Thursday as traders balanced corporate earnings against geopolitical headlines. President Donald Trump told Reuters he has no immediate plans to remove Federal Reserve Chair Jerome Powell, a comment that briefly calmed nerves about central bank independence. Meanwhile, oil prices retreated sharply after Trump signaled de-escalation in Iran.

Taiwan Semiconductor Manufacturing Co. delivered a record quarterly profit, fueled by insatiable demand for chips powering artificial intelligence. The world’s leading contract manufacturer responded by hiking its 2026 capital expenditure forecast to between $52 billion and $56 billion, signaling a massive build-out to support the AI boom. However, executives warned of tightening margins as expansion costs rise.

Attention now shifts to Wall Street, where Morgan Stanley and Goldman Sachs are set to report earnings, concluding a week of results from major lenders. These reports serve as a vital barometer for the U.S. economy. Despite concerns over tariffs and inflation, big banks have shown resilience, collectively reporting nearly $123 billion in full-year profits.