US stocks closed lower Thursday, as the major indexes struggled to build on the previous day's surge amid another round of big bank earnings and a slide in tech stocks. Investors also watched the Capitol Hill confirmation hearing of President-elect Donald Trump's pick for Treasury Secretary, Scott Bessent.

US stocks jumped on Wednesday after consumer price data showed inflation continues to slow. Strong bank earnings also helped lift sentiment.

Morgan Stanley's profit increased in the fourth quarter, fueled by a wave of dealmaking and stock sales that drove its revenue to a full-year record. Investment banking fees gained from a surge in mergers and acquisitions as sentiment was boosted by a strong U.

Morgan Stanley’s fourth-quarter profit more than doubled, boosted by trading revenue that came in well ahead of estimates on volatility tied to the US elections.

U.S. stock index futures ticked up on Thursday, ahead of quarterly results from some of the country's major lenders, and economic reports that could offer insights into the health of the world's largest economy.

US stock futures showed mixed movement on Thursday morning, with the S&P 500 and Nasdaq futures posting gains, bolstered by Bank of America’s strong quarterly results. Meanwhile, Dow futures dipped slightly as investors awaited critical economic data for insights into the health of the US economy.