Stock market today: Live updates

An hour ago

European stocks get off to a rocky start

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Stoxx 600 index.

European stocks got off to a choppy start to trading on Thursday amid rising profits, with major exchanges trading mixed.

The benchmark Stoxx 600 index lost its early gains to trade down 0.14% at 8:56 a.m. in London. Britain’s FTSE 100 index rose 0.45%, while France’s CAC 40 fell 0.8%. The German DAX was down 0.1%.

-Jenni Reid

5 hours ago

Nvidia supplier SK Hynix says it has almost sold out of high-bandwidth memory chips for 2025

Nvidia supplier SK Hynix said Thursday that its high-speed memory chips are almost out of stock for 2025, according to Reuters, as the AI ​​boom fuels demand for the chips.

The South Korean memory chipmaker said its HBM chips were fully sold out for 2024.

The company announced that it will begin mass production of the latest generation of HBM chips, the 12-layer HBM3E, in the third quarter.

SK Hynix shares are down 0.4% on Thursday.

–Sheila Chiang, Reuters

6 hours ago

DBS reports 15% rise in quarterly profit and says full-year profits will be better than expected

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

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

“We are optimistic that total revenue and earnings will be better than previously expected and that we will be able to generate another year of strong shareholder returns,” Piyush Gupta, CEO of DBS, said in a statement.

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

—Lee Ying Shan

7 hours ago

China’s Nio jumps 20% as EV deliveries more than double in April

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

The company said it delivered 15,620 vehicles in April, an increase of 134.6% year-on-year.

“Deliveries included 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, up 21.2% from the same period last year.

-Shreyashi Sanyal

8 hours ago

Japanese yen strengthens to 155 against the US dollar

The Japanese flag is juxtaposed with a Japanese yen banknote.

Javier Ghersi | Instant | Getty Images

The Japanese yen traded at 155.95 against the U.S. dollar, strengthening to an 11-day high.

Japanese authorities are believed to have intervened to support the currency on Monday after it crossed the 160 level against the greenback to hit a new 34-year low.

Japanese authorities have yet to make an official statement on the support measures taken to prop up the yen, after repeatedly warning against “excessive” movements in the currency.

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

-Shreyashi Sanyal

10 hours ago

DoubleLine’s Jeffrey Gundlach forecasts only one rate cut in 2024

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

“The inflation rate is clearly one that’s lacking progress, as (Fed Chairman Jerome Powell) said, so I’m going to rely on just one rate cut,” he said on CNBC’s “Closing Bell.” He stressed that he doesn’t expect that to happen in June.

Gundlach’s comments come after the Fed finally kept 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 an increase. I would say it’s unlikely.”

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

Darla Mercado, Yun Li

11 hours ago

Stocks heading for a losing week

With more than half of the trading week behind us, all three major averages are poised for losses.

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

-Alex Harring

11 hours ago

Stocks Make Biggest Moves After Hours

Doordash driver on an electric bike carrying a cooler backpack and a consultation phone with the San Francisco, California skyline in the background.

Smith Collection | Gado | Getty Images

Here are some of the names showing significant moves in extended trading:

  • DoorDash — Shares of the food delivery company fell 13% after its first-quarter report showed a wider-than-expected loss.
  • Carvana — The auto market soared 30% after first-quarter revenue beat Wall Street forecasts.
  • eBay — The e-commerce platform fell 4% after current quarter revenue forecasts missed expectations.

See the full list here.

-Alex Harring

11 hours ago

Stock futures are higher

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

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

-Alex Harring

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