Stock futures continued to rise Thursday on unemployment claims and a day after the Dow Jones Industrial Average and other major indexes set new records.Some of the early winners were retail giants. walmart (WMT) rose on the stock market today after strong financial results. game stop (GME) widened its losses on Wednesday.
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In pre-market trading, Dow Jones futures rose slightly relative to fair value, as did S&P 500 futures. Futures on the tech-heavy Nasdaq 100 rose 0.1% before the opening bell.
Early Thursday, the 10-year Treasury yield fell to 4.33%. Oil prices also rose, with West Texas Intermediate futures trading around $78.75 per barrel.
Among U.S. exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.1%, and SPDR S&P 500 ETF (SPY) also rose 0.1%.
Thursday with GameStop. AMC Entertainment (AMC) extended its decline on Wednesday. GameStop stock fell another 11% in morning trading, and AMC stock fell 7%.
Stock Market Today: Unemployment Claims, Walmart Earnings
Walmart stock rose 5% Thursday morning after the discount retailer reported strong earnings and sales. Walmart also raised its full-year profit and sales outlook.
Meanwhile, the Labor Department announced that the number of new unemployment insurance claims fell to 222,000 from 231,000 the previous week. They were expected to fall to 220,000, according to Econoday estimates.
Additionally, housing starts and permits in April were lower than Econoday forecasts. The number of construction starts increased to 1.36 million in April compared to 1.321 million in March, but the number of permits in April decreased to 1.44 million compared to 1.458 million in March.
Finally, the Philadelphia Fed Manufacturing Index fell to 4.5 in May from 15.5 in April. According to Econoday, it was expected to drop to 7.8.
Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
In the market, the main factors driving returns in Thursday’s pre-market trading include: Baidu (BIDU) and JD.com (JD).
Baidu shares rose 0.5% in pre-market trading, while Jingdong shares rose 4%.
dow jones rise
On Wednesday, the Dow Jones Industrial Average rose 0.9% and the S&P 500 rose 1.2%. The Nasdaq Composite Index, which has a high proportion of tech stocks, rose 1.4%. All three major stock indexes hit record highs.
Wednesday’s Investor’s Business Daily’s Big Picture column said, “The stock market showed winners outnumbering losers by a roughly 5-2 margin on the New York Stock Exchange, also long. “That’s bullish for us. On the Nasdaq, advancers outnumber decliners by a nearly 5-to-2 margin.” It is a ratio of 3. ”
During Wednesday’s IBD Live show, the IBD Live team discussed the current trading climate, with the Nasdaq and S&P 500 hitting record highs as inflation and other economic indicators remain subdued.
As the stock market continues to move, now is an important time to read The Big Picture column. Also, be sure to read about how to adapt to changing market conditions with IBD’s new exposure levels.
Learn how to time the stock market with IBD’s ETF Market Strategy
Stock Market Today: Stocks to Watch
netapp (NTAP), P.D.D. (PDD), taiwan semiconductor manufacturing industry (TSM) and trade web market (TW) — Plus Dow Jones Component JP Morgan Chase (JPM) and Merck (MRK) — one of the most interesting companies on the stock market today.
JP Morgan and Taiwan Semi are featured in this “Stocks Near the Buy Zone” column.
An essential resource for daily breakouts is IBD MarketSurge’s Breakouts of the Day list. This indicates that the MarketSurge Growth 250 stocks are breaking through a new buy point. especially, toll brothers (TOL) broke above the cup-based 130.63 buy point. Check out MarketSurge’s “Near Pivot” list to see stocks that are nearing buy points in your stronghold.
To find more stock ideas, check out our IBD stock lists, including the IBD 50, Big Cap 20, and stocks near buy zones. These features identify bullish patterns and allow you to purchase points and check them daily.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones: JP Morgan, Merck
JP Morgan is breaking above the flat base entry of 200.94 after a strong rally in recent weeks. On the stock market today, stock prices fell by a fraction of a percent.
Meanwhile, pharmaceutical giant Merck is rapidly approaching a flat base entry of 133.10. Merck shares rose 0.3% on Thursday.
4 Top Growth Stocks to Watch stock market today
Outside of the Dow Jones index, NetApp is trading in a buy range above its double-dip buy point of 108.82, according to IBD MarketSurge. NetApp stock fell 0.3% in early trading Thursday.
Tem’s parent company PDD is just below Cup With Handle’s buy point of 142.32 following Wednesday’s 1.9% rise. The stock rose 0.4% on Thursday.
Chipmaker Taiwan Semiconductor is in a buy range above the 148.43 buy point on a double-bottom basis after a strong recent rally. The stock fell 0.8% on Thursday.
Tradeweb is up 1.3% on Wednesday and is at the top of the buy range above the flat base buy point of 108.04. Stocks were unchanged Thursday.
Find the best stocks to buy and watch with the IBD Stock Screener and IBD Screen of the Day
Stock Market Today: Companies to Watch
These are four stocks in the buy zone or near the buy zone on the stock market today.
| Company Name | symbol | correct purchase point | Types of purchase points |
|---|---|---|---|
| american express | (AXP) | 231.69 | integration |
| texas roadhouse | (TXRH) | 157.12 | flat base |
| chipotle pepper | (CMG) | 3,023.98 | integration |
| trade web market | (TW) | 108.04 | flat base |
Source: IBD data as of May 6, 2024
IBD experts analyze today’s top stocks on the stock market on IBD Live.
Magnificent Seven stocks: Nvidia, Tesla
Among the Magnificent Seven brands, Nvidia (NVDA) and tesla (TSLA) rose 0.6% and 0.2%, respectively, Thursday morning.
Nvidia stock rose 3.6% on Wednesday, breaking through the handle entry of 922.20. The leader in artificial intelligence is his IBD leaderboard stock.
Tesla stock fell 2% on Wednesday, ending a two-day winning streak but still trading above its 50-day line.
Dow Jones Leader: Apple, Microsoft
Among the Dow Jones stocks in the Magnificent Seven are: apple (AAPL) and microsoft (MSFT) rose ahead of Thursday’s stock market open.
Apple shares rose 1.2% on Wednesday, closing at their highest since late January. The stock has formed a cup base with a buy point of 199.62, but keep an eye out for a potential handle that offers a lower entry. Shares were up 0.2% Thursday morning.
Microsoft stock rose 1.6% on Wednesday, decisively regaining its 50-day line. The software giant is building a flat base with a buy point of 430.82, which is within range of a buy trigger. And Microsoft stock edged higher on Thursday.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter. @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average, and today’s stock market.
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