Dow Jones futures and other major stock indexes rose Thursday morning after the first jobless claims filed by the Labor Department. tesla (TSLA) stock is expected to hit new lows after analyst downgrades in the stock market today, while streaming giant Netflix (NFLX) plans to report earnings after the transaction closes.
X
In morning trading, Dow Jones futures rose 0.3% to fair value, and S&P 500 futures rose 0.2% to fair value. Tech-heavy Nasdaq 100 futures joined in, rising 0.1% before the opening bell.
Early Thursday, the 10-year Treasury yield rose to 4.59%. Additionally, oil prices extended their decline this week as West Texas Intermediate futures traded near $82.10 per barrel.
Among US exchange-traded funds, the Invesco QQQ Trust ETF (QQQ), a Nasdaq 100 tracker, rose 0.2%, and the SPDR S&P 500 ETF (SPY) rose 0.1%.
Tesla shares fell 2.5% on Thursday morning after Deutsche Bank lowered its price target to 123 from 189 and downgraded the stock from buy to hold. On April 27, 2023, Tesla stock traded as low as 152.37. Shares fell below that level in early morning trading.
Stock market today: unemployment claims, profits
Ahead of Thursday’s market open, the Labor Department released weekly jobless claims numbers. The number of insurance claims increased slightly to 212,000 compared to 211,000 the previous week. The number was expected to reach 215,000.
Additionally, the Philadelphia Fed’s Manufacturing Business Index was 15.5 in April, up from 3.2 in March. It was expected to drop to 0.0 in April.
Key revenue drivers for Thursday include: alcohol (AA), discover finance (DFS), las vegas sands (LVS), DR Horton (DHI) and taiwan semiconductor manufacturing (TSM).
Alcoa shares rose 2.1% in premarket trading, and Discover shares rose 0.1%. DR Horton shares rose 2.9% in early morning trading, while Las Vegas Sands fell 3.5%. And the Taiwanese cicada fell 1.2% in the early going.
Meanwhile, Netflix is ​​scheduled to announce its first quarter results after the market close. The stock is above its 50-day line and just below its 52-week high.
Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
Dow Jones Falls
On Wednesday, the Dow Jones Industrial Average fell 0.2% and the S&P 500 fell 0.6%. The tech-heavy Nasdaq Composite Index fell 1.2%.
Wednesday’s Big Picture column said, “Today’s stock market once again issued a loud warning to growth investors. Wednesday’s weak earnings put the market outlook at a tipping point for another potential downgrade. Yes,” he commented.
As the stock market continues to move, now is an important time to read IBD’s The Big Picture column. Be sure to read 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
Stocks to watch in today’s stock market
broadcom (AVGO), draft kings (DKNG), On hold (Onon) and ServiceNow (Current) — Added Dow Jones component American express (AXP) and verizon communications (VZ) — One of the most interesting companies on the stock market today.
On Holding 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.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones: American Express, Verizon
According to MarketSurge charts, American Express is trying to find support near its 50-day moving average. A recovery will give payment leaders new buying opportunities. But investors will have to wait for a definitive recovery. American Express shares rose 0.6% in Thursday morning trading.
Telecommunications giant Verizon’s recent breakout attempt failed in recent trading as the stock fell more than 7% below the 43.21 buy point. Verizon stock was up slightly on Thursday morning.
4 Top Growth Stocks to Watch stock market rise
Stock Market Today: Eyes on Broadcom, Buy Points
According to MarketSurge charts, artificial intelligence player Broadcom continues to hold short-term consolidation with a buy point of 1,438.17. But on Wednesday, the stock fell 3.3%, below its 50-day line. Broadcom stock rose 0.9% on Thursday.
DraftKings has activated a key sell rule, sending the stock more than 7% below its buy point at 46.52 on Wednesday’s 6% decline in short-term consolidation. The stock price also abandoned its 50-day line. The sports betting giant was up 0.6% Thursday morning.
Retail giant On Holding continues to rebound from its 50-day line, and the stock could enter a new buying window. However, the risks are high due to market weakness. ON stock fell 0.5% early Thursday.
ServiceNow gave up on its 50-day line during Monday’s loss. The stock continues to build a flat base at 815.32, but there is still a lot to be done before a potential breakout. The stock rose 1.1% early Thursday.
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Up-and-coming stock
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 |
|---|---|---|---|
| disney | (DIS) | 112.92 | cup with handle |
| broadcom | (AVGO) | 1,438.17 | integration |
| draft kings | (DKNG) | 45.62 | integration |
| ServiceNow | (now) | 815.32 | flat base |
Source: IBD data as of April 15, 2024
IBD experts break down the top stocks in the current stock market rally on IBD Live.
Magnificent Seven Stock: Nvidia
Among the Magnificent Seven brands, Nvidia (NVDA) rose 1.4% in early trading Thursday.
Nvidia stock has built a flat base at a buy point of 974 and is trying to find support near its 50-day line. The AI ​​giant is his IBD leaderboard stock.
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 stock fell 0.8% on Wednesday, marking its third consecutive quarterly decline. Stocks found strong resistance at the 50-day line this week. Stock prices edged lower on Thursday morning.
Microsoft stock fell just 0.7% on its 50-day line on Wednesday. And the stock rose 0.4% early 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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