US stock futures rose on Thursday as chip giant TSMC’s stellar earnings buoyed AI hopes, taking minds off fears of a prolonged US-China trade war stoked by President Trump.
Nasdaq 100 futures (NQ=F) moved up 0.5%, while those on the S&P 500 (ES=F) put on roughly 0.4%, as Nvidia (NVDA) and other AI-related stocks floated higher in TSMC’s slipstream. Contracts on the Dow Jones Industrial Average futures (YM=F), which include fewer tech stocks, added 0.3%.
TSMC (Taiwan Semiconductor Manufacturing Company) hiked its outlook for 2025 revenue growth for the second time this year, giving hope that surging AI demand will keep on booming.
The go-to contract chipmaker for Nvidia (NVDA) and Apple (AAPL) also reported a nearly 40% surge in quarterly profit in the last quarter, beating estimates and reaching a record. Nvidia, Micron (MU) and other AI-related stocks floated higher in TSMC’s slipstream in premarket.
The upbeat moode also follows strong quarterly results from Wall Street banks and hints the Federal Reserve will cut interest-rates again this year.
On the downside, US-China trade frictions promise to keep unsettling markets, on the heels of a choppy session on Wall Street.
President Trump confirmed on Wednesday that those tensions remain high, telling a reporter who asked whether the two countries are headed for a long-lasting trade war, “Well, you’re in one now.” At the same time, Treasury Secretary Scott Bessent suggested trade truce between the two could be extended.
The conflicting messages follow a series of threats by Trump to further restrict trade with China in response to new sanctions and export controls from Beijing, as well as to impose additional 100% tariffs in November.
Another headwind, the US government shutdown, entered its third week, The stoppage, which has deprived the Fed and Wall Street of key data on the economy, is increasingly expected to continue into November.
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Premarket trending tickers: Nvidia, HPE and J.B. Hunt Transport
Here’s a look at some of the top stocks trending in premarket trading:
Nvidia (NVDA) stock rose 1% in premarket trading on Thursday after an upbeat earnings release from fellow chipmaker TSMC (TSM) helped boost chip stocks.
HPE (HPE) stock fell 8% before the bell after 2026 guidance came in below expectations amid slow growth for the company’s networking business.
J.B. Hunt Transport Services, Inc. (JBHT) stock rose 13% in premarket trading on Thursday following the release of its third-quarter earnings. The transport and logistics company beat Wall Street estimates sending shares higher.
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Salesforce rises after forecasting revenue above $60B by 2030
Salesforce (CRM) stock rose 6% before the bell on Thursday after forecasting that it expects revenue of more than $60 billion in 2030, beating Wall Street estimates.
Reuters reports:
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TSMC hikes sales outlook as it posts record profit thanks to AI boom
Taiwan Semiconductor Manufacturing Corp. (TSM, 2330.TW) on Thursday reported a nearly 40% surge in profit in the last quarter, fueled by soaring demand for chips used for AI.
The contract chipmaker’s net income of 452.3 billion new Taiwan dollars ($14.8 billion) in the July-September quarter topped analyst forecasts.
Shares in TSMC rose 1.56% in premarket trading on Wall Street and gained 1.4% in Taiwan.
Bloomberg reports:
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Nestlé stock soars after sales rebound, plan to shed 16,000 jobs
Nestlé (NESN.SW, NSRGY) shares climbed after the foodmaker posted a stronger-than-expected increase in quarterly sales and announced plans to slash 16,000 jobs, just weeks after replacing its chief executive officer.
The stock surged as much as 8.2% in Swiss trading, the biggest gain since 2008. The foodmaker had risen 1.7% this year through Wednesday, lagging behind the Swiss Market Index.
The job reductions, amounting to about 6% of the workforce, will occur over the next two years, the maker of Nespresso coffee capsules and KitKat candy bars said Thursday. Nestlé raised its target for cost savings to 3 billion Swiss francs ($3.7 billion) by the end of 2027, from 2.5 billion francs.
“The world is changing, and Nestlé needs to change faster,” CEO Philipp Navratil said in a statement Thursday. “This will include making hard but necessary decisions to reduce headcount.”
The announcement on jobs came alongside a 4.3% rise in third-quarter sales, driven by higher prices and improved real internal growth — a key measure of volumes closely watched by analysts and investors.
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Gold reaches new record as US-China trade tensions escalate
Bloomberg reports:
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