08:23 AM EDT, 08/07/2025 (MT Newswires) -- US equity futures were higher pre-bell Thursday after President Donald Trump suggested a potential carveout from upcoming semiconductor tariffs.

Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.7% higher.

Trump said that companies could avoid the proposed 100% tariffs on chips by committing to build manufacturing facilities in the US.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $67.38 per barrel and US West Texas Intermediate crude 0.7% higher at $64.84 per barrel.

The jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show new unemployment claims increased to 221,000 for the week ended Aug. 2 from 218,000 in the preceding week. Q2 nonfarm productivity is expected to come in at a 1.9% annual growth, while a 1.6% increase is expected for unit labor costs for the quarter, according to estimates compiled by Bloomberg.