U.S. stocks were little changed Thursday, as investors tried to recapture the postelection momentum that lifted the major averages to record highs.

The Dow Jones Industrial Average rose 103 points, or 0.2%. The S&P 500 and Nasdaq Composite gained 0.1% each.

Disney shares popped 9% after the media giant reported better-than-expected fiscal fourth-quarter results, boosting the Dow. The company got a boost from strong streaming growth driving its entertainment business.

Those moves come after the October producer price index released Thursday rose 0.2%, matching forecasts from economists polled by Dow Jones.

PPI excluding food and energy ran faster than forecast. The October consumer price index came in as expected on Wednesday, but nevertheless signaled the Federal Reserve's fight against inflation is yet to be won. Core CPI rose by 0.3% for a third straight month, with the 12-month rate at 3.3%.

Investors are deliberating whether a postelection rally following Donald Trump's decisive victory last week still has room to run after powering the major averages to new milestones. The Dow closed above 44,000 for the first time on Monday, and both the S&P 500 and Nasdaq Composite notched new highs.

Courtney Garcia, senior wealth advisor at Payne Capital Management, expects there's still upside to be had, given the cash sitting on the sidelines from investors awaiting more certainty on the U.S. economic outlook and the market.

"I don't think the rally is necessarily ending any time in the short term, but with that new money to add, I think there's a lot of other areas of opportunity that still have room to run," Garcia said Wednesday on CNBC's "Closing Bell."

Investors will also closely monitor scheduled remarks from Fed Chair Jerome Powell on Thursday in Dallas, while the October retail sales report is due out Friday.

Stocks open little changed for second straight session

Stocks were little changed shortly after the opening bell on Thursday, with Wall Street still trying to extend a postelection rally.

The S&P 500 ticked up 0.1%, while the Nasdaq Composite 0.1%. The Dow Jones Industrial Average gained 95 points, or 0.2%.

— Brian Evans

Citi initiates buy rating on Gilead

Citi is bullish on Gilead Sciences thanks to its strong HIV treatment business.

The firm initiated coverage on Gilead with a buy rating and a price target of $125 per share, which indicates nearly 35% upside potential from Wednesday's close.

"While shares have outperformed since late May (+56%), we remain bullish based primarily on upside from near term growth in HIV from Biktarvy plus a longer-term contribution from lenacapavir," analyst Geoff Meacham wrote in a note on Wednesday. Biktarvy is the company's prescription HIV/AIDS treatment.

Meanwhile, lenacapavir is slated to launch in the second half of 2025. The drug is intended for HIV prevention, a market which Meacham believes "continues to strong growth."

"We believe the launch of lenacapavir (2H 2025e) could drive meaningful upside over time, especially given the twice-yearly dosing profile in HIV prevention. We acknowledge that the path to broad reimbursement is less certain, however we suspect that payers will ultimately see the value of long-acting drugs in HIV prevention," said Meacham.

— Hakyung Kim

Disney, Cisco among the names making big moves before the bell

Some stocks are making big moves in the premarket:

• Disney – Shares popped more than 9% after the company's fiscal fourth-quarter results beat analysts' estimates. For the period, Disney earned $1.14 per share, after adjustments, on revenue of $22.57 billion. That's above earnings of $1.10 per share on revenue of $22.45 billion that analysts were expecting, according to LSEG.
• Cisco Systems – The networking stock dropped slightly. The company topped Wall Street's quarterly estimates and lifted its full-year guidance, but posted its fourth consecutive quarter of declining revenue.
• Capri, Tapestry – The luxury apparel stocks were moving in opposite directions after the companies called off their planned merger, citing regulatory hurdles. Shares of Tapestry jumped 8%, while Capri slid more than 5%.

Read here for the full list.

— Sean Conlon

Capri, Tapestry shares move after announcing end of merger plans

Capri and Tapestry shares diverged in Thursday premarket trading after the U.S.-based luxury houses terminated their merger agreement.

Versace and Jimmy Choo parent Capri slipped more than 5% before the bell. Coach maker Tapestry, on the other hand, jumped more than 6%.

The two companies mutually agreed to call of the deal after it was blocked by the Federal Trade Commission. Tapestry had previously said it would appeal the ruling in favor of the FTC.

Thursday's premarket action reflects a broader gap in performance between the two stocks. Capri has tumbled around 60% in 2024, while Tapestry has climbed more than 39% this year.

— Alex Harring, Gabrielle Fonrouge

Disney rises slightly after earnings beat

Disney shares were up more than 1% in the premarket after the media giant reported fiscal fourth-quarter numbers that beat analyst expectations.

The company earned an adjusted $1.14 per share on revenue of $22.57 billion. Analysts polled by LSEG anticipated a profit of $1.10 per share on revenue of $22.45 billion.

— Fred Imbert

Jefferies increases Tesla price target

Jefferies hiked its price target on Tesla shares — but is choosing to stick to the sidelines on the electric vehicle maker.

The firm raised its target to $300 from $195 per share. However, this remains 9% below where shares closed on Wednesday. Analyst Philippe Houchois also maintained his hold rating on the stock.

Houchois cited higher earnings and terminal value as reasons for the increased price target.

Tesla shares have rallied in the week following President-elect Donald Trump's victory on Elon Musk's close ties with Trump.

"Musk and Tesla can provide a critical bridge between China and the Trump administration and a moderating influence on Tariffs given Tesla's global market and sourcing exposure," Houchois said in a research note on Thursday.

To be sure, "How much or how long markets ignore potential conflicts of interests ranging from political responsibilities to governance and compensation, is unclear," Houchois added.

— Hakyung Kim

Asia-Pacific markets mostly fall with Hang Seng leading losses

SINGAPORE — Asia-Pacific markets mostly fell on Thursday with Hong Kong's Hang Seng index leading losses in the region, down over 2% as of its final hour of trade.

Mainland China's CSI 300 also tumbled 1.73% to finish at 4,039.62.

The rare bright spot, Australia's S&P/ASX 200 added 0.37% to close at 8,224.

Japan's Nikkei 225 fell 0.48%, reversing earlier gains to close at 38,535.70, while the Topix dropped 0.27% to finish at 2,701.22. In South Korea, Kospi ended nearly flat at 2,418.86, while the Kosdaq Index declined by 1.17% to 681.56.

— Anniek Bao

European stocks open slightly higher

European markets opened moderately higher Thursday.

The pan-European Stoxx 600 was up 0.19% in early deals, with sectors and major bourses diverging. Telecoms stocks led gains, up 0.88%, while household goods ticked 0.48% lower.

The U.K.'s FTSE 100 index was down 0.11% at 8,021, Germany's DAX was 0.42% higher at 19,085, France's CAC was up 0.08% at 7,222 and Italy's FTSE MIB was 0.44% higher at 33,852.

— Karen Gilchrist

Thursday's inflation reading expected to show an uptick

The October producer price index due out Thursday morning is set to show an uptick in inflation.

PPI, a measure of what producers get for goods and services, is expected to show a 0.2% increase last month, according to a Dow Jones consensus estimate. That's up from no change in September.

Excluding volatile food and energy prices, it's set to have increased 0.3%, up from 0.2% previously.

— Sarah Min

Stocks making the biggest moves after hours

Check out the companies making headlines in extended trading.

• CNH Industrial — Shares popped nearly 8% after Greenlight Capital's David Einhorn at CNBC's Delivering Alpha conference told attendees he took a medium-sized position in the agricultural equipment company.
• Cisco Systems — Shares inched lower by less than 1% even after Cisco Systems posted a beat on the top and bottom lines in the fiscal first quarter. The San Jose, California-based tech company reported adjusted earnings of 91 per share on revenue of $13.84 billion. Analysts polled by LSEG forecast earnings of 87 cents per share on revenue of $13.77 billion.

Read the full story here.

— Sarah Min

Stock futures open little changed

U.S. stock futures opened little changed Wednesday night.

Dow Jones Industrial Average futures rose by 14 points, or 0.03%. S&P 500 futures climbed 0.01%, while the Nasdaq 100 futures dipped 0.03%.

— Sarah Min