Shares of Northrop Grumman and Lockheed Martin were under pressure after President Donald Trump raised the idea of large cuts to defense spending.

President Donald Trump suggested Thursday that U.S. military spending could be cut in half. Shares of defense firms dropped on the news. “We’re going to spend a lot less money,” said Trump at a news conference addressing the potential outcome of talks with Russia and China.

A gauge of global stocks climbed on Thursday for the first time in three sessions while U.S. Treasury yields tumbled as an inflation reading fueled hopes the Federal Reserve's preferred measure of prices might be cooler than anticipated.

Tesla stock snapped a painful five-day losing streak on Wednesday. Giving investors a chance to think about rewards instead of just the risks. Shares of the electric-vehicle maker were up again in early trading Wednesday.

Tesla shares moved higher in early Thursday trading, but remained mired in a weeks-long slump, as a top Wall Street analysts suggests the recent bearish moves belie what is still a compelling near-term story for the world's biggest EV maker.

Markets on Wall Street were largely unchanged early Thursday, shifting between small losses and gains as more corporate earnings streamed in ahead of the latest labor market data.

Trading on Wall Street is mixed and subdued with the arrival of more quarterly financial reports from major corporations and new data on the U.S. jobs market due over the final two days of the week. Futures for the S&P 500 and Dow Jones industrials shifted between tiny gains and losses before the bell Thursday,