Global markets were calm but cautious after uncertainty over Fed Chair Powell’s tenure. Trump reassured investors that he wasn’t planning to fire Powell but floated the idea. Asian stocks were quiet, Wall Street futures fell, and European futures edged higher. The dollar remains weak amid ongoing Trump-Powell tensions.

Investors are eyeing earnings reports from TSMC and Netflix. TSMC is expected to post a 52% profit jump, but U.S. tariffs and a strong Taiwan dollar may impact its outlook. Netflix faces high expectations, especially regarding its expansion into live sports and ad-supported tier growth.

In the UK, jobs data could shed light on interest rate outlooks. Pay growth likely slowed in May, with the unemployment rate steady at 4.6%. However, rising consumer price inflation may lead Bank of England policymakers to reconsider further rate cuts.

The Australian dollar dropped after minimal employment growth and a rise in the jobless rate. Japan’s exports fell due to U.S. tariffs, and a Canadian retailer withdrew a bid to buy Seven & i Holdings. Key market influencers on Thursday include TSMC and Netflix earnings, UK labor data, U.S. jobless claims, and a speech by the Fed’s Waller.

Read more at Yahoo Finance: Markets stoic over Powell’s shifting fate