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US stock futures stepped higher on Wednesday after the US struck a trade deal with Japan and Wall Street readied for Tesla and Alphabet earnings.

Stocks aren't moving on tariff headlines like they used to.

The S&P 500 and Nasdaq Composite are both hovering near record highs as escalating tariffs and a growing debate about monetary policy have done little to shake markets.

Netflix topped second quarter earnings expectations, beating on both the top and bottom lines and raising its full year revenue guidance as the streamer continues to stand out amid a tech-driven market rally.

TSMC, the world's main producer of advanced AI chips, posted record, forecast-beating quarterly profit on Thursday but warned that future income might be hit by U.S. tariffs, though perhaps not until the fourth quarter.

Tech led as US stock futures rose on Tuesday, with a China green-light for Nvidia lifting spirits in the wait for a key consumer inflation print and for big banks to kick off earnings season.

Stocks are back near record highs, but a flurry of trade announcements, deals, and extensions kept investors on their toes last week.

Nvidia stock is signaling more gains early on Thursday after the chipmaker on Wednesday became the first publicly traded company to hit the $4 trillion mark, surpassing fellow tech players such as Microsoft and Apple.

US stock futures stalled on Wednesday after President Trump ratcheted up trade tensions with US trade partners.

China warned President Trump on Tuesday against restarting trade tensions and that it will hit back at countries that make deals with the US to exclude China from supply chains.