Dow futures show a slight increase as the market approaches the final trading day of the week. President Donald Trump has selected a close adviser as his nominee for a temporary position on the Federal Reserve Board. Elsewhere, contract chipmaker TSMC experienced a sales spike in July, while investments in artificial intelligence propelled shares in Japan’s SoftBank to an all-time high.

Dow futures indicated an upward trajectory on Friday, as investors processed Trump’s recent appointment to temporarily occupy a vacancy on the Fed’s Board of Governors and evaluated a diminishing flow of corporate earnings. Futures on the Dow increased by 57 points, reflecting a 0.1% rise, while S&P 500 futures gained 11 points, or 0.2%. Additionally, Nasdaq 100 futures saw an advance of 43 points, also representing a 0.2% increase. The primary indices on Wall Street concluded the day with varied results on Thursday, as the benchmark S&P 500 and the blue-chip Dow experienced declines, while the tech-oriented Nasdaq Composite saw a slight increase after a volatile trading session. Traders were meticulously analyzing convoluted economic data. Recent indicators suggest troubling developments in the labor market, alongside a rise in inflation expectations. However, these concerns were somewhat mitigated by robust productivity figures for the second quarter, according to analysts at Vital Knowledge in their report. Discussion continues regarding the path of U.S. interest rates. While several Fed officials this week have indicated a readiness to lower borrowing costs at the central bank’s upcoming meeting in September, one member — Atlanta Fed President Raphael Bostic — warned that there may be only room for a single reduction this year. In light of recent developments, Trump declared on Thursday that he has chosen his chief economic adviser, Stephen Miran, to fill a vacant governor position at the Fed.

If confirmed by Senate lawmakers, Miran would possess the authority to cast votes on forthcoming interest rate decisions. Miran has consistently backed Trump, who has expressed strong criticism regarding the Federal Reserve’s decision, led by Chair Jerome Powell, to refrain from promptly lowering interest rates. Miran, a former Treasury Department official during Trump’s initial term and a senior strategist at a hedge fund, contends that broad U.S. tariffs are unlikely to significantly increase domestic inflation, asserting that the financial burden of these tariffs will primarily affect foreign suppliers. Some economists have challenged the theory, however. The nomination follows the unexpected resignation of Adriana Kugler from her position as a Fed governor last week, ahead of her term’s scheduled expiration in January. Trump has indicated that Miran will assume the role on a temporary basis, yet suggested the possibility of an extension. “We will continue to search for a permanent replacement,” Trump stated in a social media post. Importantly, that individual may be the one who ultimately succeeds Powell following the conclusion of his tenure at the helm of the Fed next year.

Taiwan Semiconductor Manufacturing Co on Friday announced a 26% increase in its sales in July, indicating that artificial intelligence-fueled demand for its advanced chips remained sound. TSMC reported a 25.8% increase in sales last month compared to the same period last year, totaling T$323.17 billion ($10.8 billion). Sales experienced a growth of 22.5% compared to June. The chipmaker, a crucial supplier to prominent AI processor developers like Nvidia, has reported impressive sales growth thus far in 2025, attributing this success primarily to the advancements in AI technology. Sales for the first seven months of 2025 have increased by nearly 38% compared to the same period in the previous year. TSMC’s shares reached an unprecedented peak on Thursday following Taipei’s announcement that the company will be exempt from a potential 100% tariff on chip exports to the United States, as declared by Trump earlier this week.

SoftBank Group Corp. shares reached an unprecedented peak in Tokyo trading on Friday, following the technology conglomerate’s impressive quarterly earnings driven by a significant surge in its AI-related investments. The stock experienced a significant increase of over 13%, reaching a record high of 14,230.0 yen, which also contributed to a rise of more than 2% in Japan’s Nikkei 225 index. SoftBank reported a net profit of 421.8 billion yen for its quarter ended in June, surpassing expectations, as it capitalized on increased market optimism surrounding AI, which subsequently enhanced the value of its investments. The Japanese technology conglomerate holds interests in a variety of public and private companies associated with artificial intelligence, including Nvidia. The company has experienced a significant increase in the valuation of its shares, reinforcing its position as a semiconductor giant. It is also a majority owner of British chip designer Arm Holdings.

OpenAI has introduced its newest GPT-5 AI model, representing an advancement in the technology that underpins the widely used ChatGPT. The chatbot has emerged as a central element in the protracted and continuing surge of interest in AI applications, contributing significantly to OpenAI’s transformation into one of the most valuable private enterprises globally. Reports indicate that discussions are in progress regarding the potential for OpenAI’s employees to divest their shares at an anticipated valuation of $500 billion, significantly exceeding its present valuation of $300 billion. Thursday’s release arrives amid a wave of significant investments from major technology firms, including Facebook-owner Meta Platforms, software giant Microsoft, and Google-parent Alphabet, all focusing on enhancing their AI capabilities, especially through the expansion of data centers.