Stock Market Today: Live Updates

European stock markets got off to a shaky start to Thursday’s trading amid a flurry of earnings results, with mixed trading on major stock exchanges.

The benchmark Stoxx 600 index pared early gains to trade 0.14% lower by 8:56 a.m. in London. Britain’s FTSE 100 index rose 0.45%, while France’s CAC 40 index fell 0.8%. Germany’s DAX fell 0.1%.

— Jenny Reid

Singaporean bank DBS Group reported a 15% year-on-year increase in first-quarter net profit to a record S$2.96 billion ($2.17 billion).

Compared to the previous quarter, net income increased by 24%.

“Total margins and profits are better than our previous expectations and we are optimistic that we will continue to deliver strong shareholder returns this year,” DBS Chief Executive Officer Piyush Gupta said in a statement.

Last year, DBS reported record profits of S$10.3 billion. Following the results, DBS’s stock price rose over 2.32%.

—Li Yingshan

Chinese electric car maker Nio’s Hong Kong-listed shares rose 20% in early trading, hitting their highest in more than six weeks.

According to the company, the number of vehicles delivered in April was 15,620, an increase of 134.6% from the same month last year.

“Deliveries included 8,817 premium smart electric SUVs and 6,803 premium smart electric sedans,” Nio said in a statement Wednesday.

Nio has delivered 45,673 vehicles so far this year, an increase of 21.2% compared to the same period last year.

— Shreyashi Sanyal

The Japanese yen traded at 155.95 yen against the US dollar, its highest level in 11 days.

There are suspicions that Japanese authorities intervened to support the dollar after the yuan breached the $160 level against the dollar on Monday, hitting a new 34-year low.

Japanese authorities have repeatedly warned against the yen’s “excessive” moves, but have yet to issue an official statement about support measures taken to encourage the yen’s strength.

Japanese stocks fell on the day, with the Nikkei Stock Average dropping 0.3%.

— Shreyashi Sanyal

Jeffrey Gundlach, CEO of DoubleLine Capital, said Wednesday that he expects the Federal Reserve to cut interest rates only once this year.

“Inflation rates clearly lack progress. [Fed Chair Jerome Powell] So we’re going to rely on one rate cut,” he said on CNBC’s “Closing Bell,” adding that he doesn’t expect a rate cut to occur in June.

Gundlach’s comments came after the Fed ultimately left interest rates unchanged. Chairman Powell said at a press conference after the policy decision, “I don’t think it’s likely that the next policy rate decision will be a rate hike.I would say it’s unlikely.”

Read more about Gundlach’s reaction to the Fed’s decision here.

–Darla Mercado, Yun Lee

More than half of the trading week has been in the rearview mirror, with the average of the three major stocks expected to post losses.

The S&P 500 and Nasdaq Composite are on pace to end the week down more than 1% and 2%, respectively. The Dow Jones Industrial Average was the only one of the three stocks to end Wednesday in the green, but is expected to decline 0.9%.

— Alex Harring

Below are some of the stocks that are making big moves in extended trades.

• DoorDash — The food delivery company’s stock fell 13% after its first-quarter report showed a bigger-than-expected loss.
• Carvana — The auto market soared 30% as first-quarter sales beat Wall Street expectations.
• eBay — The online commerce platform fell 4% after its revenue outlook for the current quarter fell short of expectations.

See the complete list here.

— Alex Harring

Stock futures rose after 6 p.m. ET.

Futures tracking the Dow and S&P 500 each rose 0.2%. Nasdaq 100 futures rose 0.3%.

— Alex Harring