Stock futures declined early Thursday, with investors set to give back some of the gains that took the S&P 500 and Nasdaq Composite to fresh record highs in the previous session.

S&P 500 futures slipped 0.5%, along with Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average had fallen 354 points, or 0.7%.

Some of the biggest movers on Thursday included IBM and ServiceNow, which were respectively trading 7% and 13% lower after reporting their latest results. Shares of Tesla initially rose on better-than-expected earnings. the stock later shed about , on the other hand3% when CEO Elon Musk warned capital expenses would rise “substantially” as the electric vehicle maker moves into AI-powered self-driving cars and humanoid robots.

Both the broad economy index and tech-heavy Nasdaq finished at record levels on Wednesday after President Donald Trump extended the U.S. ceasefire with Iran. The S&P 500 and Nasdaq rose 1.05% and 1.64%, respectively. The Dow Jones Industrial Average gained 340.65 points, or 0.69%.

Late Tuesday afternoon, Trump noted that the ceasefire extension was warranted due to Tehran’s government being “seriously fractured.”

Still, geopolitical relations in the region remain tense. A lack of commitment from Iran reportedly resulted in Vice President JD Vance pausing his trip to join peace talks. Iran state media also reported that Tehran negotiators stated they wouldn’t be present, calling talks with the U.S. a “waste of time.” And on Wednesday, Iran’s navy remarked that it had seized two container ships in the Strait of Hormuz.

Investor sentiment has also been strengthened by a strong earnings season so far. Of the 87 S&P companies that have reported so far, 81% have reported an earnings beat, while 76% have reported revenue that surprised to the upside.

“The thing that’s really difficult is we keep getting these very, very intense news headlines that give everyone a lot of pause, everyone a lot of heartburn. But at the end of the day, earnings estimates continue to rise, and that really kind of indicates that businesses are figuring out a way to muddle through all of this noise and manage through this uncertainty in a way that they can still deliver revenue growth,” commented Julie Biel, chief sector strategist at Kayne Anderson Rudnick, on CNBC’s “Closing Bell: Overtime” on Wednesday afternoon.

Traders will also watch out for April’s S&P Global PMI manufacturing and services preliminary readings.

Stocks making the biggest moves premarket

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 firm authorized an additional $25 billion share buyback.

Helix Energy Solutions — Shares of the offshore energy firm 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 business sees EPS between $2.35 and $2.45, below a FactSet forecast of $2.56.

Read the full list here.

— Fred Imbert

European stocks slide as IEA chief warns of ‘biggest energy security threat in history’

European stocks were negative territory on Thursday, with oil prices ticking higher, as the head of the International Energy Agency warned that the international community 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), remarked the globe faces the “biggest energy security threat in history.”

He also warned of “difficult days” ahead for Europe’s jet fuel supplies Because 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 revenue beat.

Asia markets mostly end lower on fragile ceasefire optimism as U.S. reportedly intercepts Iranian oil tankers

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. Furthermore, experts in wall street note the continued relevance.

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 markets reach all-time high on Iran-U.S. extended ceasefire

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 income taking.

Index heavyweight Softbank Group Corp gained over 6%. A Bloomberg report said the organization 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 recent 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.

7 of the 11 GICS sectors rise on Wednesday

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

Gains were led by information innovation 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%. This also touches on aspects of investors.

— Lisa Kailai Han

Stocks making the biggest moves after hours: Tesla, IBM and more

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. shares were recently down about , on the other hand1% in extended trading.

International Business Machines — The innovation giant slipped nearly 7% after IBM failed to raise its full-year guidance after posting an earnings beat.

ServiceNow — The AI-powered software business reported first-quarter earnings and revenue that topped Wall Street expectations. shares tumbled more than , on the other hand13% as subscription revenue disappointed investors.

Read the full list of stocks moving here.

Stock futures open mixed

Stock futures opened mixed on Wednesday night.

Shortly after 6 p.m. ET, futures tied to the S&P 500 and Nasdaq Composite fell 0.2% and less than 0.1%, respectively. Dow Jones Industrial Average futures shed 144 points, or 0.3%.