U.S. stock futures edged higher Friday ahead of the week’s final trading session. President Donald Trump named a trusted adviser to temporarily fill a vacancy on the Federal Reserve’s Board of Governors. Meanwhile, Taiwan Semiconductor Manufacturing Company (TSMC) reported a strong surge in July sales, and Japan’s SoftBank (USOTC:SFTBY) saw shares hit a record high thanks to increased investments in artificial intelligence.

Futures gain ground

By 2:56 a.m. ET, Dow futures had added 57 points, or 0.1%, S&P 500 futures climbed 11 points, or 0.2%, and Nasdaq 100 futures advanced 43 points, or 0.2%. Investors were weighing Trump’s appointment and a tapering stream of earnings reports.

Wall Street’s main indexes closed mixed Thursday, with the S&P 500 and Dow dipping slightly, while the Nasdaq Composite inched up after a volatile day.

Traders grappled with conflicting economic signals. Analysts at Vital Knowledge noted in a report that fresh “ominous” indicators in the labor market and a rise in inflation expectations were partially offset by solid second-quarter productivity figures.

The path for U.S. interest rates remains uncertain. While several Federal Reserve officials indicated willingness to cut rates at the September meeting, Atlanta Fed President Raphael Bostic cautioned that there “may only room for just the one reduction this year.”

Trump nominates temporary Fed governor

In this environment, Trump announced on Thursday that Stephen Miran, his top economic adviser, is his nominee for a temporary seat on the Fed’s Board of Governors. If confirmed by the Senate, Miran will participate in upcoming interest rate decisions.

Miran has been a steadfast Trump supporter, who himself criticized the Fed and Chair Jerome Powell for not lowering rates sooner.

Miran, with prior experience at the Treasury Department during Trump’s first term and as a hedge fund strategist, has argued that sweeping U.S. tariffs will not significantly raise inflation domestically, and that the cost burden will mostly fall on overseas suppliers. However, some economists dispute this view.

This nomination follows Adriana Kugler’s abrupt resignation last week, before her term was to end in January. Trump described Miran’s appointment as temporary but hinted at a possible extension: “We will continue to search for a permanent replacement.” Notably, that successor could eventually replace Powell when his term ends next year.

TSMC posts strong July sales

TSMC reported a 25.8% year-over-year sales increase for July, reaching T$323.17 billion ($10.8 billion), also rising 22.5% from June. The semiconductor giant attributes its impressive 2025 sales growth, now nearly 38% higher than last year’s first seven months, largely to AI demand.

TSMC shares hit a record high Thursday after Taiwan announced the company will be exempt from a potential 100% U.S. tariff on chip exports unveiled by Trump earlier this week.

SoftBank shares soar on AI gains

SoftBank Group Corp. shares surged over 13% Friday in Tokyo, hitting a new high of 14,230 yen, lifting Japan’s Nikkei 225 by more than 2%. The tech conglomerate posted net profit of 421.8 billion yen ($2.87 billion) for its quarter ending June, boosted by strong investor enthusiasm around AI and a corresponding rise in the value of its holdings.

SoftBank holds stakes in numerous public and private AI ventures, including Nvidia, and is the majority owner of British chip designer Arm Holdings (NASDAQ:ARM).

OpenAI launches GPT-5

OpenAI unveiled its newest AI model, GPT-5, powering the widely popular ChatGPT. The chatbot has become central to the ongoing AI boom and has helped OpenAI grow into one of the world’s most valuable private firms.

Media reports indicate talks are underway to allow OpenAI employees to sell shares at a potential $500 billion valuation—well above its current $300 billion worth.

This launch coincides with heavy AI investment from major tech players like Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOGL), all focusing on expanding AI capabilities and data center infrastructure.

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