U.S. stock index futures barely budged on Thursday, as results from Taiwan's TSMC failed to shake investors from their cautious mood following a rollercoaster session marked by concerns about the Federal Reserve's independence.

Investors will also be eyeing June retail sales data, set for release at 8:30 a.m. ET, for fresh insight into consumer spending. Economists polled by Reuters expect monthly retail sales to have increased 0.1% last month.

Market Snapshot

At 7:50 a.m. ET, Dow E-minis were down 70 points, or 0.16%, S&P 500 E-minis were down 4.75 points, or 0.08%, and Nasdaq 100 E-minis were up 4.5 points, or 0.02%.

Pre-Market Movers

Crypto Stocks - Crypto stocks jumped in premarket trading as US House advanced crypto bills following standoff. BTCS rose 18%; Upexi rose 14%; SharpLink Gaming rose 11%; BitMine Immersion Technologies rose 7%; Bit Digital rose 3%.

TSMC - TSMC shares jumped 3.4% in premarket trading. The world's main producer of advanced AI chips posted a 60% jump in second-quarter profit to record levels that handily beat market forecasts, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook.

Opendoor Technologies - Opendoor shares jumped another 36% in premarket trading on Thursday after soaring 43% on Wednesday. Until very recently, shares of Opendoor Technologies Inc. had largely been left for dead. But over the past week, retail traders swapping stock tips on social media have helped bring them back to life. Opendoor shares have surged more than 91% this week.

Li Auto - US-listed shares of Li Auto jumped 7% in premarket trading. The Chinese EV maker has launched pre-sales for its first electric SUV (sport utility vehicle), the Li i8, with expected pricing significantly higher than that of its direct competitor, Nio sub-brand Onvo' L90.

PepsiCo - PepsiCo maintained its annual outlook and reported sales growth that beat Wall Street estimates, citing strong international growth. The shares rose 2% in premarket trading.

United Airlines - United Airlines shares fell 1.3% in premarket trading on Thursday, after the U.S. carrier flagged a hit to third-quarter earnings from operational snags at Newark airport.

GE Aerospace - GE Aerospace raised its 2025 profit forecast on Thursday, buoyed by strong demand for aftermarket maintenance services as airlines hold on to older jets longer due to persistent aircraft delivery delays. Shares of the jet-engine maker rose 0.9% in premarket trading.

MP Materials - MP Materials said on Wednesday it would sell $500 million of its common stock, a day after the U.S. rare earths miner inked a supply deal with Apple. The shares sank 5.4% in premarket trading on Thursday.

Sarepta Therapeutics - Sarepta Therapeutics will undergo a restructuring that will cut 36% of its workforce, or 500 employees, and save the gene-therapy company about $120 million in 2026. Sarepta also said it named Ryan Wong as chief financial officer, succeeding Ian Estepan, who will become chief operating officer. The stock soared 30%.

Archer-Daniels Midland, Ingredion - Archer Daniels Midland fell 6% after President Trump said Coca-Cola agreed to use real cane sugar in the U.S. ADM is a maker of high fructose corn syrup that is used in certain Coke products. Ingredion, which also is a supplier of high-fructose corn syrup, fell 5.4%.

Elevance Health - Elevance lowered its annual profit forecast and missed Wall Street estimates for quarterly earnings on Thursday, becoming the latest health insurer to be hurt by high medical costs. The company's shares fell 1.2% in premarket trading.

Abbott - Abbott beat Wall Street estimates for second-quarter profit on Thursday, driven by strong demand for its medical devices including continuous glucose monitors. However, shares fell 4.6% premarket after its third-quarter earnings forecast fell short of expectations.

GameSquare - GameSquare Holdings shares fell 13% in premarket trading after the gaming and creator entertainment media company announced plans for a new public offering of common stock.

Market News

Trump Eyes Tariff Rate of 10% or 15% for More Than 150 Countries

US President Donald Trump said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15% as he forges ahead with his trade agenda.

“We’ll have well over 150 countries that we’re just going to send a notice of payment out, and the notice of payment is going to say what the tariff” rate will be, Trump told reporters on Wednesday at the White House.

“It’s all going to be the same for everyone, for that group,” Trump added, saying that the trading partners that would receive those letters were “not big countries, and they don’t do that much business.”

In an interview with Real America’s Voice broadcast later on Wednesday, Trump said the rate would “be probably 10 or 15%, we haven’t decided yet.”

Trump Raises Pressure on Powell While Calling Firing "Unlikely"

US President Donald Trump said he’s not planning to fire Jerome Powell, and still managed to make it sound like a threat.

Trump’s comments capped a hectic few hours that took his pressure campaign against the Federal Reserve chief to a new level — and sent markets into a shortlived nosedive.

He ran the idea of sacking Powell by a receptive group of Republican lawmakers late Tuesday. An aide said Wednesday morning he was likely to follow through. Then the president publicly backpedaled – with a major caveat.

“I don’t rule out anything, but I think it’s highly unlikely, unless he has to leave for fraud,” Trump said Wednesday when asked about axing the Fed chair.

Trump Softens Tone on China to Secure Xi Summit, Trade Deal

US President Donald Trump has dialed down his confrontational tone with China in an effort to secure a summit with counterpart Xi Jinping and a trade deal with the world’s second-largest economy, people familiar with internal deliberations said.

Six months into his second term, Trump has softened his harsh campaign rhetoric that focused on the US’s massive trade deficit with China and resulting job losses. The warmer posture contrasts with his threats against other trading partners to ravage their economies with crushing tariffs.

Trump is now focused on cutting purchase deals with Beijing — similar to one he forged during his first term — and celebrating quick wins instead of addressing root causes of the trade imbalances. China posted a record trade surplus in the first half of the year amid booming exports.

On Tuesday, the US president said he would be fighting China “in a very friendly fashion.”

In meetings with his staff, Trump is often the least hawkish voice in the room, some of the people said.

TSMC Quarterly Profit Hits Record, Handily Beats Market Forecast

TSMC, the world's main producer of advanced AI chips, posted a 60% jump in second-quarter profit to record levels that handily beat market forecasts on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook.

Benefiting from surging demand for advanced chips used in artificial intelligence applications, Taiwan Semiconductor Manufacturing Co said net profit for April-June climbed to T$398.3 billion ($13.53 billion), its fifth straight quarter of double-digit growth.

That was well ahead of a T$377.9 billion LSEG SmartEstimate drawn from 20 analysts.