US stocks paired earlier gains in the afternoon trading, with all the three major averages hovering near the flatline after President Trump indicated he might not appoint Kevin Hassett as the next Fed chair. Following the remarks, Hassett’s chances in prediction markets dropped sharply, boosting expectations that former Fed Governor Kevin Warsh could become the frontrunner. Chip stocks provided some support, as Taiwan Semiconductor, Nvidia, Micron, and other semiconductor companies rose on strong earnings, AI-driven optimism, and a US–Taiwan trade deal promising $250 billion in investment in American production. Conversely, financials lagged despite solid earnings, weighed down by worries over a proposed cap on credit card interest rates. Geopolitical tensions involving Iran and Greenland added to market volatility ahead of the long holiday weekend. For the week, the S&P 500 fell 0.1% for the week, the Nasdaq dropped 0.4%, and the Dow set to finish flat.