U.S. stock market futures indicated a downturn in premarket trading on Thursday, April 23, 2026. S&P 500 futures were down 0.43%, while futures for the Dow Jones Industrial Average fell by 0.64%. The Cboe Volatility Index futures also registered a decline of 0.91%.
Among individual equities, Houlihan Lokey Inc. (HLI) experienced a substantial drop of 31.4% in premarket trading. This decline was attributed to reports of an indefinite ceasefire in the Iran conflict, which could reduce demand for the firm's restructuring services, typically benefiting from global instability. Analysts from Morgan Stanley and Goldman Sachs had recently lowered their price targets for Houlihan Lokey, citing a more cautious macroeconomic outlook that could impact the firm's advisory and counter-cyclical businesses. As of April 17, 2026, Houlihan Lokey's closing stock price was $162.50.
Medpace Holdings Inc. (MEDP) also saw a significant premarket decline of 17.4%. This occurred despite the company reporting strong first-quarter 2026 financial results on April 22, 2026. Medpace announced a 26.5% year-over-year increase in revenue to $706.6 million, with GAAP net income rising to $123.9 million and EBITDA up 25.9% to $149.4 million. The company also provided full-year 2026 guidance indicating continued growth. Additionally, Medpace announced the retirement of President Jesse Geiger, effective May 31, 2026, with CEO August Troendle reassuming the president role on an interim basis. The closing stock price for Medpace Holdings as of April 22, 2026, was $508.46.
In broader market activity, the 10-Year Treasury yield rose to 4.326%. In commodities, Brent crude oil futures were up 1.09%, while gold futures were down 0.74%. Bitcoin was trading at $77,507, down 1.74%.
Overnight, Asian markets generally closed lower, with Japan's NIKKEI 225 Index down 0.75% and China's Shanghai Composite Index falling 0.32%. European stocks were also down in afternoon trading, with the STOXX Europe 600 Index falling 0.37% and the FTSE 100 Index dropping 0.78% from their previous close. The previous regular trading session on Wednesday saw the S&P 500 and the Dow close up 1.05% and 0.69%, respectively.