US stock futures tipped higher late Thursday after the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) vaulted to their latest records on fresh signs of strength in the US economy.

Dow Jones Industrial Average futures (YM=F) rose 0.2%. Futures tied to the S&P 500 (ES=F) were up 0.2%, while those on the tech-heavy Nasdaq (NQ=F) climbed 0.2%.

The tech-heavier indexes clinched records Thursday, part of a record-setting run as Wall Street turned bullish in the second quarter. Investors were buoyed Thursday by a softening on jobless claims and stronger-than-expected retail sales, with little indication that President Trump's tariffs are so far affecting consumer spending habits.

Read more: The latest on Trump's tariffs

Meanwhile, earnings continue to roll in, and they have shown steady resilience in corporate America. Thursday's highlight was Netflix (NFLX), which kicked off Big Tech earnings with an all-around beat while raising its full-year revenue forecast. Friday's earnings highlights include 3M (MMM), American Express (AXP), and Charles Schwab (SCHW).

Read more: Full earnings coverage in our live blog

The major indexes are set for weekly wins, with this week's drama involving Trump's fury with Fed Chair Jerome Powell largely on the back burner. Powell sent a letter to Trump's top budget official on Thursday, defending the Fed's headquarters renovation project for which he has come under fire in recent days.

But already, the focus is turning to who could replace Powell next year and the additional dual mandate that person will face: keeping Trump happy while attempting to maintain the Fed's independence.

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