Stocks were higher Thursday after President Donald Trump announced that a trade deal between the U.S. and United Kingdom had been struck.

The gained 145 points, or 0.4%. The gained 0.4%, and the advanced 0.6%.

"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump said in a Truth Social post after teasing the announcement in previous posts.

Trump said there will be a news conference at 10 a.m. ET to announce the deal.

Tech shares rose, boosted on news Wednesday that the Trump administration is preparing to that would have taken effect later this month.

Nvidia traded about 0.5% higher, and Intel climbed 3.3%. AMD traded more than 3% higher as well. Megacaps Meta Platforms and Amazon advanced more than 1% each, and Tesla popped over 3%.

Thursday's moves come after a winning session on Wall Street that saw volatile moves, as investors digested the latest Federal Reserve policy announcement and monitored for signs of progress on trade deals. Market participants share increasing worries that a global trade war could send prices higher and worsen inflationary pressures.

The Fed on Wednesday , as expected. Fed Chair Jerome Powell said during his post-decision press conference that if announced tariffs remain at their current levels, they could lead to a slowdown in economic growth, a spike in long-term inflation and greater unemployment.

Stocks open higher on Thursday

Here's where major U.S. indexes stood shortly after the opening bell:

• The  added 233 points, or 0.6%
• The  gained 0.7%
• The  jumped by about 1.1%

— Pia Singh

Productivity slumped, labor costs surged in first quarter

Productivity declined in the first quarter while the cost of labor rose, the Bureau of Labor Statistics reported Thursday.

Nonfarm business contracted at a seasonally adjusted annualized rate of 0.8% for the three-month period, the result of a 0.3% drop in output and a 0.6% increase in hours worked. The headline number was in line with the Dow Jones estimate.

At the same time, unit labor costs jumped 5.7%, as hourly compensation increased 4.8% and productivity fell. The consensus forecast was for a 5.1% increase.

—Jeff Cox

Trump's trade deal with U.K. will have 'limited' scope, CNN reports

CNN reported on Thursday morning that President Donald Trump's with the U.K. has some key caveats.

A U.S. and a U.K. official the outlet that Trump's deal announcement will be "limited in scope" and "heavy on future commitment," according to CNN's Alayna Treene. The 10% universal tariff would remain in place, she added.

The White House is expected to hold a news conference at 10:00 a.m. ET in the Oval Office.

— Alex Harring

Jobless claims fall back to trend after spiking last week

Initial filings for unemployment insurance moved lower last week after a spike raised questions about labor market stability.

totaled a seasonally adjusted 228,000 for the week ending May 3, down 13,000 from the prior period and below the Dow Jones consensus estimate for 230,000.

The total rose a week ago due to a spike in New York, where schools closed for spring break. The number for New York fell by more than 15,000, according to unadjusted data.

Continuing claims, which run a week behind, also eased, dropping 29,000 to 1.88 million.

—Jeff Cox

See the stocks moving before the bell

These are some of the stocks moving before the bell on Thursday:

• — The glasses maker slid 4.4% after posting lower-than-anticipated revenue for the first quarter and slashing its annual outlook for the measure. Warby Parker recorded $224 million in revenue during the quarter, just missing the consensus forecast of $225 million, per LSEG.
• – The media conglomerate's shares pulled back more than 2%. Warner Bros. Discovery reported a quarterly loss of 18 cents per share, which is 5 cents wider than the loss analysts anticipated, according to LSEG. Revenue came in at $8.98 billion, under the $9.6 billion expected.
• — The digital workout company's shares retreated 3.3% following a bigger first-quarter loss per share than Wall Street anticipated. Peloton lost 12 cents per share, while analysts polled by LSEG penciled in a decline of just 6 cents. However, revenue came in at $624 million, ahead of LSEG's $621 million forecast.

for the full list.

— Alex Harring

Alphabet stock rises after Google says search from Apple products is still growing

Shares of rose 2% in premarket trading after the Google-parent company released a statement on a report about the impact of artificial intelligence on search.

"We continue to see overall query growth in Search. That includes an increase in total queries coming from Apple's devices and platforms. More generally, as we enhance Search with new features, people are seeing that Google Search is more useful for more of their queries — and they're accessing it for new things and in new ways," the statement said.

On Wednesday, reported that Apple executive Eddy Cue said in court testimony there has been a decline in search on the Safari browser as more people use AI, and that the iPhone maker could in the future. Google is the default search engine on iPhones.

Shares of Alphabet fell more than 7% on Wednesday.

— Jesse Pound

Bank of America updates Bradesco

Bank of America is becoming bullish on Brazilian-based financial services company Bradesco.

Analyst Mario Pierry upgrades shares to buy from neutral after the company posted better-than-expected first-quarter results.

Bradesco's restructuring plan, "introduced one year ago, is having a positive (and structural) impact on operations (ROE is up 390bp YoY). The share price has underperformed other large-cap banks YTD (+13% vs +22%), while valuation symmetry looks favorable (at 0.8x current P/B), and the stock is under-owned," Pierry said in a Thursday note.

U.S.-traded shares were last up more than 9%.

— Hakyung Kim

Trump criticizes Powell again, calls him a 'fool' for not cutting rates

Trump went after Fed Chair Jerome Powell again, in a Truth Social post after the central bank kept rates steady. The post said:

″'Too Late' Jerome Powell is a FOOL, who doesn't have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and "eggs") down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF "TOO LATE!" ENJOY!"

— Fred Imbert

Trump announces U.S.-U.K. trade deal to come

Trump on Truth Social of a trade deal between the U.S. and the United Kingdom set to be announced Thursday at 10 a.m. ET. 

"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," the post stated.

In a separate statement on Truth Social also regarding the trade deal announcement, Trump added that the agreement with the U.K. is "the first of many."

— Hakyung Kim

Positioning momentum in U.S. stocks has stalled even with positive catalysts, Citi says

U.S. equity positioning may not be all that upbeat despite recent trade developments and quarterly results, according to Citi.

"De-escalating trade tensions and a better-than-expected earnings season have led to a period of stability for investor positioning. However, the uplift from bullish flows has been considerably restrained," Chris Montagu, the firm's global head of quantitative research, wrote in a note on Wednesday.

Montagu found that positioning momentum levels are actually close to neutral for both the and the .

"Limited bullish flows were overshadowed by increasing short positioning, leading to a decline in positioning levels for the S&P," he continued. "Nasdaq positioning edged higher, but neither index reflected a strong shift towards bullish positioning over the past week."

— Sean Conlon

AppLovin, Arm among the stocks making moves after hours

Check out the stocks making big moves in extended trading on Wednesday:

•  – The AI-powered marketing platform saw shares rallying 13% in extended trading after the company reported  quarterly results. AppLovin's posted an EPS of $1.67, higher than an LSEG consensus estimate of $1.45 per share. Revenue of $1.48 billion also came in above expectations. The company also announced it's selling its mobile gaming business to Tripledot Studios for consideration of $400 million in cash and an approximately 20% ownership stake in Tripledot common equity.
•  – U.S. traded shares of the chip designer slid 9% after the company's guidance . Arm sees fiscal first-quarter adjusted earnings ranging from 30 cents to 38 cents a share, while FactSet consensus estimates sought 42 cents per share. Guidance on revenue for the period ranged from $1.00 billion to $1.10 billion, while estimates called for $1.10 billion. The outlook overshadowed beats on the top and bottom lines in the fiscal fourth quarter.
•  – The semiconductor stock dropped 4% even after the company reported stronger-than-expected earnings for the fiscal second quarter. Skyworks posted adjusted earnings of $1.24 per share on $953 million in revenue, above the $1.20 per share and $952 million in revenue that analysts surveyed by LSEG were expecting. The company also forecast upbeat earnings for the third quarter.

Read for the full list.

— Sean Conlon

Stock futures open lower

U.S. stock futures traded down Wednesday night after the three major averages saw gains during the day's regular session.

Just after 6 p.m. ET, S&P 500 futures moved 0.2% lower, as well as Nasdaq-100 futures. Futures tied to the Dow Jones Industrial Average dropped 85 points, or 0.2%.

— Sean Conlon