The Dow Jones Industrial Average and other major stock indexes reversed higher Thursday as Wall Street reacted to key economic data that included weekly unemployment claims. Three early movers were Apple, Tesla and Nvidia.
Early Thursday, the Dow Jones Industrial Average traded 0.2% higher. The S&P 500 gained 0.3%. And the tech-heavy Nasdaq composite rose 0.4%.
The 10-year Treasury yield ticked lower to 4.18% early Thursday. And oil prices edged up, as West Texas Intermediate futures traded near $66.90 per barrel.
Among exchange traded funds, the Invesco QQQ Trust rose 0.4%, while the SPDR S&P 500 ETF moved up 0.3% after the open.
Apple, which continues to rebound from its recent lows, remains far below its 200-day moving average line amid heavy losses. Apple stock gained 0.4% in morning trades Thursday.
Tesla stock rebounded 4.7% on Wednesday, ending a two-day slide. And the stock added 0.2% Thursday. Shares are nearly 52% off their record high of 488.54, reached on Dec. 18.
Meanwhile, Nvidia stock reversed 1% higher in morning trading Thursday. The artificial intelligence titan bounced 1.8% Wednesday, rebounding after two days of heavy losses. Shares are holding below their 50-day and 200-day moving averages.
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Stock Market Today: Jobless Claims Due, Earnings Movers
The Labor Department's weekly jobless claims rose to 223,000, below Econoday estimates that called for a rise to 225,000 compared with 220,000 in the previous week.
The Philadelphia Fed Manufacturing index fell to 12.5 in March, above Econoday forecasts that anticipated the index to drop to 11.5, down from February's 18.1 reading.
In stocks, key earnings movers include Academy Sports, Darden Restaurants, Five Below and PDD Holdings.
Academy stock gained 0.7%, while shares of Darden added more than 5%. Five Below leapt 4% higher, but PDD stock tumbled more than 4% in early action.
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Dow Jones Rallies 383 Points
On Wednesday, the Dow Jones Industrial Average rallied 0.9%, or 383 points, while the S&P 500 gained 1.1% and the Nasdaq advanced 1.4%.
Following the recent market rebound, now is an important time to read IBD's The Big Picture column for the updated exposure level.
Among the best companies to watch in the current stock market are Aon, Berkshire Hathaway, Tradeweb Markets and Uber Technologies.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and Travelers.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Travelers Gives Up Buy Point
Dow Jones component and insurance giant Travelers gave up its 263.08 handle buy point Tuesday, according to MarketSurge chart analysis. Shares edged down 0.3% Thursday.
Outside the Dow, Tradeweb Markets closed just above a cup-with-handle's 140.48 entry. During this week's breakout move, the Relative Strength line triggered the blue dot, which is a sign of strong stock market outperformance. Shares were down 0.5% Thursday.
Warren Buffett's Berkshire Hathaway edged further out of the buy range above a 491.67 cup-base entry. Shares lost 0.1% Thursday morning.
Uber has a handle entry at 82.10 and shares are looking for much-needed support at their 50-day line amid the ongoing pullback. The ride-share giant was a recent IBD Stock Of The Day. Uber stock gained 1.7% Thursday.
Finally, IBD Leaderboard stock Aon is trying to find support around a 395.33 buy point in a cup base following a recent breakout move. Its RS line hit a new high last week. Shares moved down 0.2% Thursday.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader and the Warren Buffett-led stock.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Uber Technologies | 82.10 | Cup with handle | |
| Travelers | 140.48 | Handle entry | |
| Berkshire Hathaway | 491.67 | Cup base | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 17
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Dow Jones Leaders: Amazon, Microsoft
Magnificent Seven stocks continue to face heavy selling pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon is below its 200-day line following big losses in recent weeks. Amazon moved up a fraction early Thursday.
Finally, software giant Microsoft dropped 0.3% Thursday. Shares hit a new 52-week low last week, but are rebounding.
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.
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