Stock market today: Live updates

American Airlines on Thursday cut its 2026 earnings forecast, becoming the latest airline to lower its outlook after a surge in fuel costs added billions to expenses this year. Here is what American reported in the first quarter compared with Wall Street estimates compiled by LSEG:

• Loss per share: 40 cents adjusted vs. a loss of 47 cents expected
• Revenue: $13.91 billion vs. $13.79 billion expected

Shares gained nearly 2% in the premarket.

— Leslie Josephs, Sarah Min

Earnings season is alleviating fears of a weaker consumer due to the U.S.-Iran war and increasing investor interest in risk again, according to UBS. But there are some warning signs that traders should be cautious of signaling volatility ahead, even if not another move downward.

In a Thursday note, the bank said oil prices rise for a fourth day is a concern, as normal traffic flow through the Strait of Hormuz remains elusive despite the ceasefire in the Middle East. Brent Crude futures crossed $100 per barrel again on Wednesday.

“While we continue to expect stocks to end the year higher amid a still-supportive economic backdrop, ongoing risks to the growth outlook and concerns over AI investment and disruptions suggest that the path upward may remain bumpy,” wrote UBS chief investment officer for the Americas Ulrike Hoffmann-Burchardi.

As a hedge against volatility, Burchardi recommends investors stay or get diversified across sectors and geographies. She also advised traders have exposure to bonds, gold and other commodities.

— Davis Giangiulio & Michael Bloom

Check out the companies making the biggest moves before the bell:

Netflix — The streaming giant gained more than 1% after a regulatory filing showed the company authorized an additional $25 billion share buyback.

Helix Energy Solutions — Shares of the offshore energy company rose more than 3% after Helix agreed to merge with privately held Hornbeck Offshore Services in an all-stock deal. The deal is expected to close in the second half of 2026. The newly formed entity will operate as Hornbeck Offshore Services and will trade under the ticker HOS.

Honeywell — The industrial giant shed 5.6% after it reported mixed first-quarter results and issued lackluster second-quarter guidance. In Q1, adjusted earnings of $2.45 per share beat an LSEG estimate of $2.32 per share, though revenue of $9.1 billion was below consensus. For Q2, the company sees EPS between $2.35 and $2.45, below a FactSet forecast of $2.56.

Read the full list here.

— Fred Imbert

European stocks were negative territory on Thursday, with oil prices ticking higher, as the head of the International Energy Agency warned that the world faces an unprecedented energy security threat.

The pan-European Stoxx 600 was about 0.4% lower in morning dealmaking, with most regional sectors and bourses trading in the red. Brent crude, the international oil benchmark, was up 2.2%, reaching $104.17 per barrel.

Speaking with CNBC’s Steve Sedgwick at this year’s CNBC CONVERGE LIVE in Singapore on Thursday, Fatih Birol, the head of the International Energy Agency (IEA), said the world faces the “biggest energy security threat in history.”

He also warned of “difficult days” ahead for Europe’s jet fuel supplies as a result of the Iran conflict.

Among individual stocks, L’Oreal soared 8.7% after the cosmetics giant notched its fastest quarterly growth in two years, while Nokia shares surged 8.2% after posting a quarterly profit beat.

Most Asian markets gave up early gains to end lower Thursday, following reports that the U.S. had intercepted at least three Iranian oil tankers in Asian waters, stoking concerns that the Middle East conflict could drag on.

Japan’s Nikkei 225 ended Thursday’s session 0.75% lower at 59,140.23, after briefly touching an all-time intraday high of 60,013.98 in early trade.

Japan’s manufacturing activity expanded at its fastest pace in four years in April, according to the S&P Global flash Purchasing Managers’ Index, as firms boosted output amid supply concerns linked to Middle East tensions.

South Korea’s Kospi reached an all-time intraday high of 6,538.72 in early trade and ended 0.90% higher at 6,475.81. The small-cap Kosdaq dropped 0.58% to 1,174.31. The country’s economy grew more than expected in the first three months of the year, recording the fastest growth since the third quarter of 2020.

Australia’s S&P/ASX 200 traded choppy, falling 0.57% to 8,793.40.

Mainland China’s CSI 300 index slipped 0.28% to 4,786.33, while Hong Kong’s Hang Seng index fell 0.92% as of its last hour of trade.

India’s Nifty 50 fell 0.67% as of 3:40 a.m. ET.

The West Texas Intermediate futures rose 1.33% to $94.20 per barrel as of 2:31 a.m. ET. Brent crude added 1.21% to $103.50 per barrel.

— Justina Lee

Japan and South Korea stocks hit record highs Thursday, trailing overnight gains on Wall Street after President Donald Trump‘s extended a ceasefire with Iran, boosting investor sentiment alongside strong corporate earnings.

Japan’s Nikkei 225 briefly touched an all-time intraday high of 60,013.98, before slipping 0.31% on profit taking.

Japan’s manufacturing activity expanded at its fastest pace in four years in April, according to the S&P Global flash Purchasing Managers’ Index, as firms boosted output amid supply concerns linked to Middle East tensions.

Index heavyweight Softbank Group Corp gained over 6%. A Bloomberg report said the company is taking on more debt in its push for AI, seeking a $10 billion margin loan backed by its OpenAI holdings.

South Korea’s Kospi also reached an all-time intraday high of 6,538.72, advancing 1.58%. The small-cap Kosdaq was 0.58% higher. The country’s economy grew more than expected in the first three months of the year, recording the fastest growth since the third quarter of 2020.

The 1.7% growth in January to March from the previous quarter exceeded Reuters’ estimates of 1.0% and rebounded from the 0.2% contraction in the prior quarter.

Samsung Electronics shares hit a new intraday record of 227,000. Investors were also monitoring labor developments, as the company’s unions expected more than 30,000 workers to attend a rally in South Korea on Thursday, ahead of a planned strike next month.

Australia’s S&P/ASX 200 traded choppy, fallling 0.76%.

Mainland China’s CSI300 index rose 0.35%, while Hong Kong’s Hang Seng index fell 0.51% ahead of the release of the city’s March inflation data.

Oil prices rise, with West Texas Intermediate futures rose 0.49% to $93.42 per barrel as of 9:33 p.m. ET. Brent crude added 0.28% to $102.20 per barrel.

— Justina Lee

On Wednesday, seven of the 11 GICS sectors finished higher.

Gains were led by information technology stocks, which rose 2.31%. Communication services and energy stocks followed in performance, respectively adding 1.41% and 1.14%.

On the other hand, real estate stocks slipped 0.69% and were the day’s underperformers. The industrials, financials and utilities sectors followed, respectively slipping 0.20%, 0.17% and 0.16%.

— Lisa Kailai Han

These are the stocks moving the most in extended hours trading:

• Tesla — Shares initially popped 4% after the electric vehicle maker posted first-quarter adjusted earnings of 41 cents per share, beating the 37 cents analysts polled by LSEG had expected. However, shares were recently down about 1% in extended trading.
• International Business Machines — The technology giant slipped nearly 7% after IBM failed to raise its full-year guidance after posting an earnings beat.
• ServiceNow — The AI-powered software company reported first-quarter earnings and revenue that topped Wall Street expectations. However, shares tumbled more than 13% as subscription revenue disappointed investors.

Read the full list of stocks moving here.

— Lisa Kailai Han