US stock futures edged higher as Wall Street assessed President Trump’s nomination of Stephen Miran to the Federal Reserve Board of Governors and the close of the first day under his sweeping new tariffs.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) crept up 0.2%.
In corporate earnings after the bell, Pinterest (PINS) tumbled on a profit miss, whereas Block (XYZ) jumped after reporting upbeat guidance.
Stocks traded mixed during the day on Thursday as investors assessed a reshaped trade landscape after Trump’s deadline for countries to strike deals on tariffs expired, setting in motion higher duties on dozens of countries worldwide. The indexes trimmed earlier losses following Trump’s nomination of Stephen Miran, current chairman of the Council of Economic Advisors, to serve on the Fed board.
Read more: The latest on Trump’s tariffs
Miran’s nomination must pass Senate approval, but its unclear how long that might take with lawmakers on August recess. Trump’s decision on Miran also underscored his search for the next Fed chair.
This week has been a bumpy ride for Wall Street. Monday opened with markets recovering from a disappointing slew of job data that stoked fears of broader economic troubles and upped bets the Fed could cut rates in September. Corporate earnings and the question of how companies like Apple might weather Trump’s latest tariffs largely drove investor sentiment throughout the week.
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Stock market coverage for Friday, August 8, 2025.