Market Volatility Sparks Mixed Reaction in Stocks
As the latest unemployment data was released, the Dow Jones Industrial Average and other major indexes experienced a decline on Thursday. However, some stocks bucked the trend, with Nvidia and Tesla making notable moves.
Ahead of the opening bell, Dow Jones futures fell 0.4%, while S&P 500 futures eased by 0.3%. The tech-heavy Nasdaq 100 futures moved down 0.5% in early trading. The 10-year Treasury yield climbed to 3.82%, and oil prices extended their gains, with West Texas Intermediate futures trading around $71.85 per barrel.
Nvidia stock rallied 2.1%, further rebounding from its 50-day moving average, while Tesla shares skidded 1.4%, threatening to extend a losing streak to three sessions.
Among other notable stocks, Broadcom pulled past Tesla, and Amazon locked heads with Google. The IBD Live team discussed the current trading conditions and how investors should handle the new stock market volatility.
Some of the best companies to watch on the stock market today include Arista Networks, Spotify, Texas Roadhouse, Toast, and Wingstop. Notable Dow Jones components are Amazon.com, Apple, Home Depot, and Microsoft.
To find additional stock ideas, investors can check IBD Stock Lists like IBD 50, Big Cap 20, and Stocks Near A Buy Zone. The IBD Stock Screener and IBD Screen Of The Day can also help identify the best stocks to buy and watch.
Among Magnificent Seven stocks, Alphabet dipped 0.6% while Meta Platforms lost 0.5% Thursday. Google stock is back above its 50-day line after recent gains, but has yet to offer a new buy point. Meta stock hit a new high this week, further above a 544.23 alternate entry.
Dow Jones components in the Magnificent Seven, such as Amazon, Apple, and Microsoft, are also worth watching. Amazon shares are nearing a 195.37 buy point in a cup with handle, while Apple is close to a V-shaped cup with handle that shows a 232.92 entry. Microsoft shares are testing support at their 50-day line and are near a 441.85 buy point in a cup with handle.
Investors can stay up-to-date with the latest market trends and analysis by following Scott Lehtonen on X at @IBD_SLehtonen.
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