Futures-options traders work on the floor at the New York Stock Exchange’s NYSE American (AMEX) in New York City, U.S., Jan. 15, 2026.
Brendan McDermid | Reuters
Stock futures were near the flatline Thursday night after a rally in banks and tech names boosted the major averages.
S&P 500 futures gained 0.1%, while Dow Jones Industrial Average futures added 30 points, or less than 0.1%. Nasdaq 100 futures advanced nearly 0.2%.
Major U.S. stock indexes rallied across the board in Thursday’s regular trading. The S&P 500 and the Nasdaq Composite each jumped nearly 0.3%, while the 30-stock Dow added 0.6%. The small-cap Russell 2000 index outperformed, advancing almost 0.9%.
Chip stocks were among the market’s biggest winners in the session after Taiwan Semiconductor Manufacturing Company gave blowout fourth-quarter results, reigniting hopes for the artificial intelligence trade. Taiwan Semi jumped more than 4%, while Nvidia and AMD gained about 2% each.
Further, the U.S. and Taiwan reached a trade agreement in which Taiwanese chip and tech companies will invest at least $250 billion in production capacity in America.
Bank stocks also got a boost after Goldman Sachs and Morgan Stanley posted solid fourth-quarter results. Goldman shares gained more than 4%, while Morgan Stanley added nearly 6%.
“The fundamentals are really healthy. You’re looking for above-average earnings growth, margins, sales revenue, the Fed cutting interest rates likely this year. That’s all positive,” Larry Adam, Raymond James chief investment officer, said on CNBC’s “Power Lunch.”
To be sure, Adam said he’s slightly cautious coming into 2026. Risks to the market’s gains include expensive valuations, which leaves the market vulnerable to disappointments, the investment chief said. He added that retail investors also already own a record amount of equity, and that the U.S. is readying for midterm elections that could lead to an uptick in volatility.
Investors are preparing to close out a hectic week. They’ve been grappling with a slate of headlines out of Washington, running the gamut from heightened geopolitical risk in Iran and Greenland to worries over threats to the Federal Reserve’s independence.
The major averages are heading for losses on the week, with the S&P 500 off 0.3% and the Nasdaq down 0.6% in the period. The Dow is down 0.1% week to date.