US stocks edged higher on Thursday as President Trump's sweeping tariffs hit dozens of US trade partners after his self-imposed deadline for countries to strike deals expired. At the same time, Trump's hint of a carveout for coming duties on semiconductors boosted tech for a second consecutive day.

The Dow Jones Industrial Average (^DJI) gained 0.6%, while the S&P 500 (^GSPC) was up 0.5%. The tech-heavy Nasdaq (^IXIC) rose 0.8%.

Trump's deadline for trade deals landed at 12:01 a.m. ET on Thursday. Imports from nearly 200 countries now face duties ranging from 10% to 50%, and the overall average effective tariff rate is projected to jump to 18.3%.

Read more: The latest on Trump's tariffs

Apple (AAPL) shares climbed Thursday in premarket trading as Trump and CEO Tim Cook announced the company would make a $100 billion investment in the US. As part of the deal, Apple will manufacture the cover glasses for iPhones and Apple Watches in Kentucky.

The president also revealed at the press conference that he plans to eventually set a 100% tariff on semiconductors. Companies like Apple that commit to building in the US, however, will be exempt from the tariff, he said.

Airbnb (ABNB), DoorDash (DASH), and Lyft (LYFT) reported earnings after the bell. DoorDash shares jumped premarket on an upbeat forecast driven by resilient delivery demand. Airbnb and Lyft, meanwhile, fell on disappointing guidance.

On Thursday, in addition to grappling with the latest trade policy shifts, Wall Street will receive new data on weekly jobless claims. The state of the labor market is in high focus following a disappointing July jobs report and downbeat revisions to the May and June jobs reports.

Here's a look at some top trending tickers on Thursday ahead of the opening bell:

Apple (AAPL) stock rose more than 2% premarket, adding to a massive 5% rally on Wednesday. The iPhone maker dodged the bulk of President Trump's tariffs that went into effect Thursday after CEO Tim Cook met with Trump to announce a fresh $100 billion investment in the US.

Eli Lilly (LLY) shares fell 7% after late-stage trial results for its oral weight-loss pill disappointed. The company said 25% of patients dropped out at its highest dose. Still, the company's injectable GLP-1 sales remained robust as volumes for Mounjaro and Zepbound increased 46%.

Taiwan Semiconductor (TSM) stock gained 5% after a White House official confirmed the chipmaker won't be subject to Trump's 100% tariff on semiconductors. TSMC, which is the world's largest chip supplier, has pledged $65 billion to build plants in Arizona and committed an additional $100 billion in US investment earlier this year.

Fortinet (FTNT) shares tumbled 22% after the cybersecurity firm reported a weaker-than-expected third quarter revenue outlook. The guidance suggested businesses are cutting back on spending amid widespread macroeconomic uncertainty stemming from global trade tensions.

Airbnb (ABNB) stock declined 6%, also on a lower growth outlook and cautious commentary on the company's earnings call. This sparked concerns about travel demand softening; however, the vacation rental company said that demand remains steady so far.

Duolingo (DUOL) stock rocketed 27% higher as the language-learning app experiments with different features and artificial intelligence. It's working so far, as customers upgrading to paid tiers increased, lifting average revenue per user by 6%.

Read more live coverage of corporate earnings here.

Americans filing for unemployment insurance on an ongoing basis reached the highest level since November 2021 at the end of July.

In the week ending July 26, 1.974 million continuing claims were filed, up from 1.936 million the week prior and the highest level seen since November 2021, according to data from the Department of Labor released Thursday morning. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs.

Meanwhile, weekly filings for unemployment benefits moved higher to 226,000 in the week ending Aug. 2, up from 221,000 the week prior.

Read more: What are jobless claims, and why do they matter?

President Trump on Thursday morning called for the resignation of Intel's (INTC) CEO Lip‑Bu Tan, who has been at the job since March, saying the executive is \\"highly conflicted\\" and should leave his post immediately.

“The CEO of INTEL is highly conflicted and must resign immediately. There is no other solution to this problem. Thank you for your attention to this problem!” wrote Trump on social media.

On Wednesday, Reuters reported that US Republican Sen. Tom Cotton sent a letter to the company's board raising questions about Tan's ties to Chinese firms and a recent criminal case involving his former company, Cadence Design (CDNS.O).

Intel stock was down as much as 3% in premarket trading.

Eli Lilly (LLY) stock fell 7% in premarket trading. Although the company's second quarter earnings topped expectations, the results of a late-stage trial of its highly anticipated oral GLP-1 pill disappointed.

For the quarter, Eli Lilly reported $15.56 billion in revenue, beating Wall Street estimates of $14.69 billion. Earnings per share came in at $6.31, compared to Street expectations of $5.56.

Much of the $10.81 billion in US revenue was driven by strong sales of weight-loss drugs, Mounjaro and Zepbound, which increased 46% in volume, though prices fell 8%.

Yahoo Finance's Anjalee Khemlani reports:

The latest GLP-1 prescription data tracked by JPMorgan analysts shows prescriptions for Zepbound have increased 225% year over year, with total weekly prescriptions at more than 418,000 as of the end of July — compared to Wegovy's 35% year-over-year growth and 281,000 total weekly prescriptions.

Meanwhile, what investors had viewed as the next ace in its pipeline, a GLP-1 pill, orforglipron, disappointed in late-stage trials. The company reported a 25% patient drop-out at the highest dose.

\\"The discontinuation rate on the placebo was also quite high (press release says 29%), which makes us think there was something about the study that is odd/unique and will need to get some clarity here,\\" Mizuho's healthcare expert Jared Holz wrote. \\"To have this many patients drop out across arms is surprising and almost does not compute

Read more here.

Economic data: Initial jobless claims (week ending Aug. 2); Nonfarm productivity (second quarter preliminary); Unit labor costs (second quarter preliminary)

Earnings: Block (XYZ), Celsius (CELH), ConocoPhillips (COP), Eli Lilly (LLY), Sony (SONY), SoundHound (SOUN), Pinterest (PINS), Take-Two Interactive (TTWO), Twilio (TWLO), The Trade Desk (TTD), Vistra Energy (VST)

Here are some of the biggest stories you may have missed overnight and early this morning:

Investors are 'agitated' by less than perfect earnings

Shopify's strong quarter shows consumers are ignoring tariffs

Eli Lilly stock falls on GLP-1 pill trial results

Trump's tariffs hit dozens of countries as trade deadline expires

Trump to sign order easing path for private assets in 401(k)s

Apple leads surge in global tech shares after Trump tariff relief

Trump boasts billions of dollars flowing into US from tariffs

Warner Bros revenue surges on streaming expansion, box-office hits

Trump floats possible tariffs on China for buying Russia oil\\

TSMC shares surge as Taiwan says firm exempt from Trump tariffs

Not too far removed from Figma's (FIG) huge IPO, Firefly will come to market at the Nasdaq later on today. The IPO was upsized, and it's likely it will come out of the block strong when it opens.

I am not in love with the company's financials, but it has a host of key deals in place and its technology has proven to work (see trips to moon). And it has a SpaceX (SPAX.PVT) like story to tell at a hot time for markets. Perfectly timed debut.

I am live with Firefly CEO Jason Kim around 11am ET today from the Nasdaq. Tune into Yahoo Finance!

Softbank's (SFTBF, 9984.T, SFTBY) Tokyo shares closed 1% up on Thursday after reporting a bigger profit than expected in the June quarter.

Bloomberg News reports:

SoftBank Group Corp. (SFTBF, 9984.T, SFTBY) swung to a bigger-than-expected profit in the June quarter, riding on gains from its bets on Nvidia Corp. (NVDA) and startups in a boost for founder Masayoshi Son’s bets on artificial intelligence technologies.

The Tokyo-based company reported net income of ¥421.82 billion ($2.9 billion) in its fiscal first quarter, more than double the average of analyst estimates. Its signature Vision Fund logged a ¥451.39 billion profit, helped by a recovery in tech valuations and gains on holdings such as Coupang Inc., Auto1 Group SE, Symbotic Inc. and Swiggy Ltd.

A recovery at SoftBank’s struggling Vision Fund is helping Son double down on bets geared to help him capitalize on booming investment in AI hardware. SoftBank was also helped by its stakes in Nvidia and Taiwan Semiconductor Manufacturing Co., while it continues to sell off less relevant assets.

Read more here.

Apple stock rose 3% before the bell on Thursday. Yahoo Finance's technology editor Daniel Howley and Washington correspondent Ben Werschkul outline the latest developments from the Apple investment announcement on Wednesday.

Apple (AAPL) revealed plans to invest an additional $100 billion in US manufacturing commitments during a press event at the White House with President Trump on Wednesday.

The move follows Apple's prior $500 billion investment in US spending, which includes working with partners to build an AI server plant in Texas.

Shares of Apple climbed more than 3% premarket on Thursday following the news.

Apple says that the $100 billion announcement includes its new American Manufacturing Program (AMP), which the company says will incentivize global companies to build critical components in the US.

Read more here.

Bloomberg News reports:

Sony Group Corp's (SONY) shares had their best day in two weeks after the Japanese company lifted its profit forecast on growth in its entertainment divisions, easing investor fears about possible US tariffs on chips.

Momentum in the music and games segments bolstered the Tokyo-based company’s outlook, Sony said on Thursday. The number of monthly active users on its PlayStation platform rose 6% from a year ago, alongside an increase in total hours played. That’s while the Sony Music segment logged a 5% revenue increase despite a hefty forex impact.

The Japanese entertainment group raised its operating income forecast for the year ending March to ¥1.33 trillion ($9 billion), up 4% and roughly in line with analyst estimates. Back in May, in the midst of uncertainty around Washington’s new import tax regime, Sony had warned its profit would take a ¥100 billion hit. Following Japan’s trade deal with the US, Sony said it now sees a tariff impact of around ¥70 billion. Shares in the company erased earlier losses to rise 4.1% in Tokyo on Thursday.

Read more here.

Taiwan Semiconductor Manufacturing Co. (TSM) shares rose 5% in premarket trading on Thursday after announcing it will not have to pay 100% tariff on sales to the US.

Bloomberg News:

“TSMC is exempted from the chip tariffs because it has set up plants in the US,” Liu Chin-ching, minister in charge of the National Development Council, said in Taipei on Thursday. As for other Taiwanese companies that may be affected by the levies, they “shall continue to stay ahead” if competitors face the same charges.

The US government has also expressed willingness to continue negotiations with Taiwan on tariff issues, Liu added. The government still expects economic growth in 2025 to reach the level of 3.1%, despite the impact of the new levies, Liu said.

Read more here.