After a rough Wednesday that saw the Nasdaq Composite tumble 1%, U.S. stock futures decided to wake up on the right side of the bed Thursday morning. All major benchmark index futures pointed higher as tech stocks staged a notable comeback.

Wednesday's selloff came courtesy of reports suggesting a potential 25% tariff on select semiconductor imports, which managed to overshadow some positive news about U.S. approval for certain exports to China. The tariff saga continues to play out in slow motion as the Supreme Court once again delayed its ruling on the framework's legality. Nothing like a little uncertainty to keep traders on their toes.

In the bond market, the 10-year Treasury yield was sitting at 4.15%, while the two-year bond yielded 3.52%. Meanwhile, the CME Group's FedWatch tool shows markets are essentially taking a 95% bet that the Federal Reserve will keep interest rates exactly where they are come January's meeting.

As for the premarket action, futures were showing some life across the board:

The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100 respectively, both moved higher in premarket trading on Thursday. The SPY climbed 0.34% to $692.68, while the QQQ advanced 0.71% to $623.95.

Companies Making Moves

Goldman Sachs: Earnings in the Spotlight

Goldman Sachs Group Inc. (GS) dipped 0.44% in premarket trading as Wall Street geared up for the investment banking giant's quarterly earnings report, expected before the opening bell. Analysts are looking for earnings of $11.65 per share on revenue of $13.79 billion.

From a technical perspective, Goldman maintains a stronger price trend across short, medium, and long-term timeframes, along with a solid quality ranking. The stock has been demonstrating consistent momentum heading into this earnings print.

Taiwan Semi Delivers a Monster Quarter

Here's the story that really got semiconductor investors excited: Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) absolutely crushed it, jumping 4.46% after reporting a 35% surge in fourth-quarter profit that topped analyst estimates. The company's net profit hit T$505.7 billion (that's $16 billion for those keeping score in dollars), marking its seventh consecutive quarter of double-digit growth. When you're the world's most important chip manufacturer, apparently the demand just keeps coming.

The semiconductor party didn't stop there. ASML Holding NV (ASML), the Dutch equipment maker that's basically essential to making advanced chips, rose 4.93% and crossed the $500 billion market cap threshold. These moves helped ease some of Wednesday's tariff-induced anxiety.

Taiwan Semi shows a stronger price trend over short, medium, and long-term periods, though it carries a poor value ranking. At this point, investors seem willing to pay up for quality in the semiconductor space.

Applied Materials Gets a Massive Upgrade

Speaking of semiconductor equipment, Applied Materials Inc. (AMAT) surged 6% after Susquehanna analyst Mehdi Hosseini delivered what can only be described as an enthusiastic upgrade. He bumped the stock from 'Neutral' to 'Positive' and more than doubled his price target to $400 from $180. That's the kind of analyst call that gets attention.

Applied Materials maintains a stronger price trend across all timeframes with a solid quality ranking. The company's positioning in the semiconductor equipment space continues to attract bullish attention as chip demand remains robust.

Amazon Puts Billions Into European Cloud

Amazon.com Inc. (AMZN) ticked up 0.67% after Amazon Web Services announced the launch of a new European Sovereign Cloud backed by a €7.8 billion (or $9.1 billion) investment. The move addresses European concerns about data sovereignty while expanding AWS's infrastructure footprint.

Amazon maintains a stronger price trend over short, medium, and long-term periods with a moderate value ranking. The company continues to pour capital into its cloud infrastructure as competition in the space intensifies.

Calavo Gets an Acquisition Offer

Calavo Growers Inc. (CVGW) shares rocketed 12.93% higher despite posting disappointing fourth-quarter results. The reason for the disconnect? Mission Produce announced plans to acquire Calavo at $27 per share, giving shareholders a nice exit premium.

The stock maintains a stronger price trend across all timeframes, though it carries a poor growth ranking. At this point, the acquisition price is what matters most to shareholders.

What Happened Wednesday

Wednesday's session was a study in sector rotation. Energy, consumer staples, and real estate stocks posted the biggest gains, while consumer discretionary and information technology took it on the chin, dragging the broader market lower.

The Big Picture According to BlackRock

BlackRock continues to maintain an optimistic view on U.S. equities, keeping an overweight stance driven by what they describe as "solid U.S. economic growth" and the transformative potential of artificial intelligence.

What's particularly interesting in their analysis is the observation that "U.S. corporate earnings strength is broadening." Translation: profit growth isn't just coming from the Magnificent 7 tech giants anymore. It's spreading to other sectors, which is generally a healthier foundation for a market rally.

The firm sees something unusual happening in markets right now, noting that "mega forces are trumping the traditional macro in driving returns." This shift explains their preference for AI-focused investments and cyclical sectors like industrials and materials, which stand to benefit from infrastructure buildouts and the massive data center construction boom.

On the labor market, BlackRock describes a "no hiring, no firing" environment that supports consumer spending without overheating the economy. It's a Goldilocks scenario that helps keep the expansion going.

That said, they're not ignoring risks. The firm remains watchful for renewed wage gains, which could signal "sticky inflation that will curb how soon the Fed might cut rates again." Their bottom line? "We stay overweight U.S. equities and pro-risk on the AI theme."

Economic Calendar for Thursday

Investors have several data points and Fed speakers to digest Thursday:

• The initial jobless claims data for the week ending January 10 arrives at 8:30 a.m. ET, along with November's delayed U.S. import prices data, January's Empire State manufacturing survey, and the Philadelphia Fed's manufacturing survey.
• Fed Governor Michael Barr speaks at 9:15 a.m., Richmond Fed President Tom Barkin takes the stage at 12:40 p.m., and Kansas City Fed President Jeff Schmid speaks at 1:30 p.m. ET.

Commodities, Currencies, and Crypto

Crude oil futures were taking a beating in early New York trading, down 3.36% to hover around $59.75 per barrel.

Gold slipped 0.38% to trade around $4,609.13 per ounce, coming off its recent record high of $4,643.06. The precious metal has been on quite a run lately as investors seek safety amid global uncertainty.

The U.S. Dollar Index spot edged 0.11% higher to the 99.1620 level.

In the crypto world, Bitcoin (BTC) was trading 2.05% higher at $96,927.28 per coin, continuing its volatile dance below the $100,000 psychological level.

Global Markets Roundup

Asian markets closed mixed on Thursday. India's Nifty 50, Japan's Nikkei 225, and Hong Kong's Hang Seng indices all declined, while China's CSI 300, Australia's ASX 200, and South Korea's Kospi indices moved higher. European markets were showing a mixed picture in early trading as well.