Stock market today: Live updates

European stocks had a choppy start to Thursday trade amid a flurry of earnings, with major bourses trading mixed.

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

— Jenni Reid

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

Compared to the previous quarter, net profit jumped 24%.

“We are optimistic that total income and earnings will be better than previously guided and we will be able to deliver another year of strong shareholder returns,”  DBS Chief Executive Officer Piyush Gupta said in a statement.

Last year, DBS reported a record profit of S$10.3 billion. Shares of DBS rose more than 2.32% following the results.

—Lee Ying Shan

Hong Kong-listed shares of Chinese electric vehicle maker Nio Inc jumped 20% in early trading, touching their highest level in over six weeks.

The company said it delivered 15,620 vehicles in April, a 134.6% year-over-year increase.

“The deliveries consisted of 8,817 premium smart electric SUVs, and 6,803 premium smart electric sedans,” Nio said in a statement on Wednesday.

Nio has delivered 45,673 vehicles so far this year, 21.2% more compared with the same period a year earlier.

— Shreyashi Sanyal

The Japanese yen traded at 155.95 against the U.S. dollar, strengthening to its strongest level in 11 days.

Japanese authorities are suspected to have intervened to prop up the currency on Monday after it breached the 160 level against the greenback to touch fresh 34-year lows.

Japanese authorities are yet to make an official statement about any support measures taken to boost the yen after having repeatedly warned against “excessive” moves in the currency.

Japan stocks were lower on the day, with the Nikkei 225 down 0.3%.

— Shreyashi Sanyal

Jeffrey Gundlach, CEO of DoubleLine Capital, said Wednesday that he anticipates the Federal Reserve will cut rates just once this year.

“The inflation rate clearly is the one that is lacking progress as [Fed Chair Jerome Powell] put it, so I’m going to lean on one rate cut,” he said on CNBC’s “Closing Bell.” He noted that he doesn’t anticipate it coming in June.

Gundlach’s comments come after the Fed ultimately held rates steady. At a press conference following the policy decision, Powell said, “I think it’s unlikely that the next policy rate move will be a hike. I’d say it’s unlikely.”

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

–Darla Mercado, Yun Li

With more than half of the trading week in the rearview mirror, the three major averages are on track to see losses.

The S&P 500 and Nasdaq Composite are on pace to finish the week down by more than 1% and around 2%, respectively. The Dow, which was the only of the three to end Wednesday in the green, is poised for a loss of 0.9%.

— Alex Harring

These are some of the names posting sizable moves in extended trading:

• DoorDash — Shares of the food delivery company tumbled 13% after its first-quarter report showed a wider-than-expected loss.
• Carvana — The car marketplace soared 30% after revenue for the first quarter topped Wall Street forecasts. 
• eBay — The online commerce platform dropped 4% after current-quarter revenue guidance missed expectations. 

See the full list here.

— Alex Harring

Stock futures saw gains shortly after 6 p.m. ET.

Futures tied to the Dow and S&P 500 each added 0.2%. Nasdaq 100 futures climbed 0.3%.

— Alex Harring