Stock market today: Live updates

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

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

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

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

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

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

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

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