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Shares of Tesla and other electric vehicle makers fell Thursday after a report President-elect Donald Trump and his transition team are planning to end a $7,500 EV tax credit.

Tesla stock was under pressure on Thursday afternoon as the broader Trump trade was fading after a furious post-election rally.

Stocks moved lower after Federal Reserve Chair Jerome Powell said the central bank is in 'no hurry' on rate cuts.

Disney reported fiscal fourth quarter earnings that beat expectations on both the top and bottom lines as its streaming business swung to a profit.

In remarks that align with a developing expectation in financial markets for fewer rate cuts next year than previously forecast by Fed officials, Powell affirmed that he and his fellow policymakers still consider inflation to be "on a sustainable path to 2%" that will allow the U.S. central bank to move monetary policy "over time to a more neutral setting." "Fed Chair Powell telegraphed news that markets didn't want to hear but news that was clearly manifest in the last CPI report, that the Fed cannot yet declare victory in its campaign to quell inflation."

A December rate cut from the U.S. central bank might not be as sure of a thing as previously thought.

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