Stock market today: live updates

Moderna Shares rose 10% premarket after the vaccine maker reported a surprise third-quarter profit and a rise in sales.

The company earned an adjusted 3 cents per share on revenue of $1.86 billion. Analysts polled by LSEG expected a loss of $1.90 per share on revenue of $1.25 billion.

The results were driven by higher-than-expected sales of Covid vaccines.

—Fred Imbert

Asia-Pacific markets mostly rose on Thursday in choppy trading after former President Donald Trump won the White House and defeated Vice President Kamala Harris in the 2024 presidential election.

The CSI 300 in mainland China erased losses to lead gains in Asia, rising 3.02% to close at 4,145.7. Hong Kong's Hang Seng Index initially fell but then also reversed course and rose 2% in the final hour of trading.

China reported export data in October that significantly exceeded market expectations.

Japan Nikkei 225 was the only major index in negative territory, losing 0.43% to close at 39,381.41, but the broad-based Topix rose 1% to 2,743.08.

South Korea Kospi rose marginally to 2,564.63, but the small-cap Kosdaq lost 1.32% to close at 733.52.

—Lim Hui Jie

As U.S. Treasury yields rise due to Trump's election victory, expectations have fallen about how aggressively the Federal Reserve will cut interest rates this winter.

The key interest rate, which determines the fees banks charge each other for overnight loans, is currently between the targeted 4.75% and 5.0%. At this point it is almost certain that the US Federal Reserve will decide on a cut of a quarter of a percentage point, i.e. 25 basis points, at its meeting on Thursday.

According to the CME FedWatch tool, market prices currently indicate a 71 percent chance of another quarter-point cut in December. In comparison, that probability was 77% on Wednesday and 72% a week ago. The future interest rate probabilities found in the CME FedWatch tool are derived from trading in 30-day Fed Funds futures contracts.

On the other hand, expectations of a rate cut in January have shifted due to Wednesday's elections. The CME FedWatch tool indicates that market prices are currently in favor of a rate pause in January.

In fact, after cuts in November and December, the probability of another quarter-point cut in January has fallen to 29%, from 41% on Wednesday and 45% a week ago. Meanwhile, the likelihood that the Federal Reserve will leave interest rates unchanged in January has risen to 54%, up from 48% on Wednesday and 44% this time last week.

—Lisa Kailai Han

These are some of the stocks making big strides in extended trading:

• Lyft – The ride-hailing company rose nearly 20%. Third-quarter revenue was $1.52 billion, beating consensus estimates of $1.44 billion, per LSEG. Fourth-quarter guidance beat Street expectations: Lyft forecast bookings of $4.28 billion to $4.35 billion, even though FactSet consensus estimates called for just $4.23 billion.
• SolarEdge Technologies – The maker of residential solar inverters slumped 18% after third-quarter sales fell short of Street expectations.
• Fairy beauty — The beauty retailer's shares rose 11% after it reported a stronger-than-expected quarterly report and raised guidance.

The full list can be found here.

—Alex Harring

Stock futures are decently flat shortly after 6 p.m. ET.

Futures tied to the Dow Jones, S&P 500 and Nasdaq 100 all traded slightly above levels. This came after the previous session saw a huge post-election rally in stocks.

—Alex Harring