The Dow Jones Industrial Average and other major stock indexes traded lower Thursday as jobless claims from the U.S. Labor Department rose more than expected. Meanwhile, Carvana and Walmart were big earnings losers on the stock market today.
After the opening bell, the Dow Jones Industrial Average traded down 0.6%, as the S&P 500 dropped 0.5%. The tech-heavy Nasdaq composite moved down 0.7% in early morning trades.
The 10-year Treasury yield ticked lower to 4.52% early Thursday. And oil prices rose, as West Texas Intermediate futures traded around $72.60 per barrel.
Among exchange traded funds, the Invesco QQQ Trust dropped 0.7%, while the SPDR S&P 500 ETF sank 0.5% after the open.
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Jobless Claims, Earnings Movers
The Labor Department's weekly unemployment claims climbed to 219,000 vs. 213,000 in the previous week. They were expected to edge higher to 215,000, according to Econoday estimates.
Carvana gave an upbeat outlook for used car sales late Wednesday after easily beating earnings and revenue estimates for the fourth quarter of 2024. But the margin for company's adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, came in at 10% for the fourth quarter.
That was below the third quarter figure of 11.7%, which the company had called an all-time best for public automotive retailers. As a result, Carvana stock plunged 13% in morning trading.
Walmart beat estimates for the fiscal fourth quarter, but its outlook for fiscal 2026 fell short of estimates. Walmart stock tumbled 6% early Thursday.
Elsewhere, big earnings movers Wednesday include Alibaba, Birkenstock, Clearwater Analytics, Klaviyo, Shake Shack and Toast.
Shares of Alibaba surged 14%, while Birkenstock lost 5%. Clearwater stock soared 10%, as Klaviyo lost more than 11%. Shake Shack jumped 10%, while Toast stock slipped 4%.
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Stock Market Today: Dow Jones Eyes New High
On Wednesday, the Dow Jones Industrial Average edged higher, while the S&P 500 rose 0.2% to hit a record high. And the Nasdaq inched up, just shy of its own new high.
Among the best companies to watch in the current stock market are Royal Caribbean, Samsara and Wells Fargo.
Along with Apple and Nvidia, Dow Jones components making notable moves were Amazon, Microsoft and Salesforce.
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: Salesforce Shows New Buy Point
Dow Jones component Salesforce is building a flat base with a 369 buy point, according to MarketSurge pattern recognition. But the stock must retake its 50-day moving average line first, as it was down 1.1% in morning action Thursday.
Outside the Dow, IBD Leaderboard name Wells Fargo is in buy range above a cup base's 78.13 buy point. Wells Fargo stock lost 0.4% early Thursday.
Cruise operator Royal Caribbean regained a 258.79 flat-base entry amid a recent rebound. It shed 3.2% Thursday morning.
Samsara shares snapped a 10-day win streak Wednesday, but held in the buy zone past a cup base's 57.51 buy point. Shares declined 1% early Thursday. It was a recent IBD Stock Of The Day.
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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.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Toast | 41.50 | Cup with handle | |
| Salesforce | 369 | Flat base | |
| Royal Caribbean | 258.79 | Flat base | |
| Samsara | 57.51 | Cup base |
Source: IBD Data as of Feb. 20
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Nvidia, Tesla Stock Fall
Artificial intelligence chip maker Nvidia edged lower Wednesday, holding squarely above its 50-day moving average. Shares are forming a cup base with a 153.13 buy point, per IBD MarketSurge pattern recognition.
There might be an early entry at 143.44, the high price of Feb. 18. Nvidia stock moved down 1.2% in morning action Thursday.
Tesla rallied 1.8% Wednesday, ending a two-day skid. Shares remain about 27% off their 52-week high and sharply below their 50-day line. But Tesla stock slipped 2.6% in early morning trading Thursday.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Dow Jones component and Magnificent Seven stock Amazon continues to hold below a 233 buy point. Amazon stock sank another 1.6% early Thursday as it traded further below its 50-day line.
Apple stock, which edged higher Wednesday, is approaching an early buy point at 247.19, or the high of Jan. 31, and is moving up the right side of a new base. Shares rose 0.1% in early action Thursday.
Finally, software giant Microsoft moved up 0.2% Thursday. Shares have slipped below their 50-day line in recent weeks where they continue to trade.
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.
