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.

Investors were focused on President Trump's tariff policy on Thursday as the president unveiled plans for new chips tariffs that included exemptions for companies building in the U.S., or that have committed to build.

The Dow Jones average fared the worst of the major indexes with its 0.5% drop, or loss of 224 points, despite a 3.2% gain for Apple AAPL. The 30-stock index sank below its 21-day exponential moving average. Caterpillar stock CAT was a loser on the Dow after a ratings downgrade.