The stock market is a complex and ever-changing landscape, influenced by a multitude of factors. On Thursday, major indexes like the Dow Jones Industrial Average and others saw an upward trend as investors responded to the U.S. Labor Department's unemployment report. One notable stock on the negative side was Nvidia (NVDA), which seemed to be at risk of ending its winning streak on the stock market.
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After the opening bell, the Dow Jones Industrial Average rose by 0.1%, and the S&P 500 followed suit. The tech-heavy Nasdaq composite also showed an upward movement in morning trades. Early Thursday, the 10-year Treasury yield saw a slight increase to 4.21%, and oil prices also ticked higher, with West Texas Intermediate futures trading around $69 per barrel. Among exchange-traded funds, the Invesco QQQ Trust (QQQ) traded a fraction higher, while the SPDR S&P 500 ETF (SPY) rose 0.1% after the open. Nvidia stock fell 0.1% on Thursday, but it still had the potential to extend its winning streak to five sessions. The artificial intelligence titan had rebounded bullishly from its 50-day moving average line, placing it in a new buy area as shares approached new highs.Cracks Emerge In Nvidia’s AI Armor. What’s An Investor To Do?
The stock market's performance on Thursday was also influenced by various factors. Bitcoin topped $100,000 for the first time on Wednesday night, exceeding the late November peak of $99,768. It reached as high as $103,844 and is currently slightly below $103,000. Crypto-related stocks and ETFs were strong movers on Thursday, including Coinbase Global (COIN) and MicroStrategy (MSTR). Coinbase stock jumped almost 5%, while MicroStrategy rallied 3%. Earnings movers on Thursday morning included Dollar General (DG), Five Below (FIVE), Kroger (KR), SentinelOne (S), and Synopsys (SNPS). Dollar General stock rallied 1.5%, while Five Below shares jumped nearly 15%. Kroger shares edged lower, and SentinelOne stock plunged 14%. Synopsys shares tumbled 6% in morning trading. Early Thursday, the Labor Department's initial jobless claims rose more than expected, at 224,000 compared to 213,000 in the previous week. The weekly data suggests ongoing strength in the employment market.Apple Breaks Out, Eclipsing Nvidia In Race For Year-End No. 1
On Wednesday, the Dow Jones Industrial Average rose 0.7%, while the S&P 500 gained 0.6% and the Nasdaq composite advanced 1.3%. Among the best companies to watch on the stock market today are Embraer (ERJ), Taylor Morrison Home (TMHC), TJX (TJX), and Tradeweb Markets (TW). Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), Microsoft (MSFT), and Travelers (TRV). Apple was featured in this Stocks Near A Buy Zone column. To find additional stock ideas, one can check IBD Stock Lists like IBD 50, Big Cap 20, and Stocks Near A Buy Zone.This Industry Group — And 4 IPOs — Polish 20 ‘Perfect’ Gems
Dow Jones leader Travelers is just below a 269.56 buy point in a flat base, according to MarketSurge pattern recognition. Shares gained 0.5% on Thursday. Outside the Dow Jones index, IBD Leaderboard stock Taylor Morrison Home is back at its 50-day line and below a 71.95 buy point amid recent losses. Shares were up 0.3% early Thursday. Embraer remains below a 37.30 flat-base entry after declines in recent sessions. Shares climbed 2.4% on Thursday morning. Retailer TJX is above a 121.13 flat-base entry and in buy range following strong gains. TJX stock lost 0.1% in early Thursday trading. Finally, Tradeweb closed Wednesday still below a 136.13 entry in a flat base. Tradeweb stock climbed 1.1% on Thursday.Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader.Company NameSymbolCorrect Buy PointType Of Buy PointTradeweb (TW)136.13Flat baseSherwin-Williams (SHW)392.57Flat baseBroadcom (AVGO)186.42ConsolidationTJX (TJX)121.13Flat baseAmong Magnificent Seven stocks, Alphabet (GOOGL) fell 0.1% after the opening bell. Shares had plunged below their 50-day line in recent weeks but are now rebounding. Meta Platforms (META) is breaking out past a flat base's 602.95 entry and in buy range. Shares moved up 0.1% on Thursday. Tesla climbed 3.8% on Thursday, looking to add to Wednesday's gains. Shares reached new highs in morning action. Among Dow Jones components in the Magnificent Seven, Amazon stock rallied sharply in recent sessions, decisively retaking a 201.20 buy point and hitting new highs. It added 0.2% in morning trading on Thursday. Shares of Apple are breaking out above a flat base's 237.49 entry. The stock was up 0.1% on Thursday morning. Microsoft shares inched lower on Thursday morning. The stock closed Wednesday at its highest level since September 19. Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average, and the stock market today.