Dow Jones futures and other major stock indexes rose Thursday as Wall Street awaited the Labor Department’s weekly unemployment claims. meanwhile, Carvana (CVNA) Revenues skyrocket; apple (AAPL) is expected to release its financial results after the stock market closes today.
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Dow Jones futures rose 0.5% to fair value in premarket trading, while S&P 500 futures rose 0.7%. Futures on the tech-heavy Nasdaq 100 rose 0.9% before the opening bell.
Early Thursday, the 10-year Treasury yield edged up to 4.61%. Oil prices also rose, with West Texas Intermediate futures trading around $79.70 per barrel.
Among U.S. exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.9% and SPDR S&P 500 ETF (SPY) rose 0.7%.
Stock Market Today: Unemployment Claims, Apple Profits
The Department of Labor’s first unemployment claims are scheduled to be released at 8:30 a.m. ET. Insurance claims are expected to rise to 211,000 from 207,000 the previous week.
Carvana stock soared nearly 36% on Thursday morning after the company announced sharp swings in profitability and sales growth in the first quarter.
Other key revenue drivers include: door dash (dash), eBay (EBAY), Etsy (ETSY) and paycom software (PAYC) with Qualcomm (Qcom), Sprout Farmers Market (SFM) and shake shack (shaku).
DoorDash plunged more than 8%, and eBay shares fell more than 3% in premarket trading. Etsy stock is down more than 13% and Paycom stock is down 7%. Qualcomm rose more than 5% in early trading while Sprouts shares rose more than 3%. Finally, Shake Shack stock rose 1.3%.
Meanwhile, Apple’s financial results are expected to be released after the market closes. Analysts surveyed by FactSet expect Apple to report revenue of $90.3 billion and earnings of $1.50 a share in the March quarter. Earnings per share were $1.52 on sales of $94.8 billion in the same period last year.
Investors will likely keep an eye on the company’s iPhone sales, especially amid reports of weak demand in China. Meanwhile, the company’s services business is expected to see positive signs in the March quarter.
Apple stock fell 0.6% on Wednesday, falling further below its 50-day line. Apple rose 1% Thursday morning.
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dow jones rise
On Wednesday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 and Nasdaq each fell 0.3%.
Wednesday’s The Big Picture Column said, “Notice that Nasdaq 100 tracker Invesco QQQ Trust closed below its 50-day moving average for the 13th time in a row; “This is the longest period since 17 days in which it has remained below the line.” In the period from September 15 to October 9 last year, QQQ was in the midst of a second wave of correction that began in mid-July. ”
As the stock market continues to move, now is an important time to read Investor’s Business Daily’s The Big Picture column. Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
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Stocks to watch in today’s stock market
Chipotle Mexican Grill (CMG), NXP Semiconductors (NXPI), texas roadhouse (TXRH) and trade web market (TW) — plus Dow Jones components American express (AXP) — One of the most interesting companies on the stock market today.
Texas Roadhouse is featured in this “Stocks Near a 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. Additionally, MarketSurge’s “Near Pivot” list shows stocks that are nearing buy points on base.
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.
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Dow Jones: American Express
American Express is rebounding massively with support near its 50-day moving average. The bullish rally put the software leader in new buy territory, but the stock price fell below the 231.69 entry in a short-term consolidation. Stock prices rose nearly 1% on the stock market that day.
3 top growth stocks to watch stock market today
Outside of the Dow Jones index, Chipotle fell 0.7% on Wednesday, returning to buy range above its short-term consolidated buy point at 3,023.98, according to IBD MarketSurge. Chipotle stock rose 0.8% in early trading Thursday.
NXP Semiconductors is trying to break out of the double-dip buy point at 251.96, but it bounced back during Wednesday’s 2.6% decline. The stock rose 1.1% on Thursday.
Texas Roadhouse gave up a flat-based 157.12 buy point Wednesday and fell 2.4%. Shares rose 1.4% on Thursday morning.
Tradeweb regained its 50-day moving average during Wednesday’s trading, forming a flat base at a buy point of 108.04. Stocks were flat on Thursday.
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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 April 22, 2024
IBD experts analyze today’s top stocks on the stock market on IBD Live.
Magnificent Seven stocks: Nvidia, Tesla
Magnificent Seven Stocks Nvidia (NVDA) and tesla (TSLA) rose 1.6% and 1.7%, respectively, in pre-market trading on Thursday.
Nvidia stock fell another 3.9% on Wednesday, abandoning its 50-day line. The stock continues to form a consolidation with a new buy point at 974. Aggressive investors can use 888.19 as an early entry.
Tesla shares fell 1.8% on Wednesday, extending Tuesday’s decline. The stock remains above its 50-day line after Monday’s 15% jump.
Dow Jones Leader: Microsoft
Among the Dow Jones stocks in the Magnificent Seven are: microsoft (MSFT) rose ahead of Thursday’s stock market open.
Microsoft stock rose 1.4% on Wednesday, but remains below its 50-day line. The software giant is building a new flat base with a buy point of 430.82. The stock rose 0.7% 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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