U.S. Stock Futures Edge Up After Nasdaq Hits Record High

U.S. stock futures were modestly higher early Friday, with a mixed picture across global stock markets the day after the tech-heavy Nasdaq composite hit a new record high. The dollar remained under pressure and Treasury yields rose after weak debt auctions and rising chances that the Federal Reserve will cut rates in September. President Trump said he would nominate Stephen Miran to fill a vacancy on the Federal Reserve’s Board of Governors on a short-term basis. Last year, Miran, the head of the White House Council of Economic Advisers, co-authored a paper arguing for sweeping reforms at the Federal Reserve.

Elsewhere, gold futures rose sharply, building on recent gains, after the U.S. reportedly slapped tariffs on 1kg gold bars—a move that would mostly hurt Switzerland, which is also still trying to renegotiate its 39% trade tariff. Benchmark crude-oil prices slipped.