US stock futures climbed on Thursday, signaling a recovery from back-to-back losses as chip linchpin TSMC's strong outlook boosted AI hopes in the wait for more big bank earnings. The mood marks a reversal after tech led stocks lower on Wednesday,

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About 30 minutes after the market open, the Russell 2000 (+0.15%%) is out in front, briefly recovering some of its morning losses. However, it appears to be paling back. The Dow (-0.16%) has shared a similar trajectory of decline and recovery in the opening, but currently remains in decline on the day.

Banks and credit-card stocks dragged the Dow Jones Industrial Average and the S&P 500 lower on Tuesday, while December CPI inflation report showed inflation meeting expectations.

An outcry rang out from prominent figures within hours of reports that the Department of Justice had opened a criminal investigation into Federal Reserve Chair Jerome Powell. All of Powell’s living predecessors atop the Fed, as well as many Wall Street CEOs and members of Congress in both parties voiced alarm.

The US stock market could be headed for another growth spurt.

Mega-cap tech dragged the tape, with Nvidia ( NVDA 1.48%) falling 1.44% to $183.14 and Microsoft ( MSFT 2.42%) shedding 2.40% to $459.38. Wells Fargo ( WFC 4.54%) sank on mixed earnings and regulatory worries. Exxon Mobil ( XOM +2.81%) outperformed after CEO Darren Woods called Venezuela "uninvestable" last week.

"Everbody's Happy Nowadays" sang the Buzzcocks in 1979. That seems like it's also the case for investors in 2026. The number of national stock market hitting 52 week highs has surged to 47 out of 70,

Bank earnings start today, and consumer inflation data are due. Follow along for live updates on markets and the top finance, economics and business stories. Plus the latest on the Dow, S&P 500 and Nasdaq.

Warren Buffett's contrarian strategy says investors should be cautious because bullish sentiment and stock market valuations are high by historical standards.

The Dow Jones index fell Thursday on surprise weekly jobless claims. Nvidia chipmaker TSMC surged on earnings.