The Dow Jones Industrial Average and other major stock indexes traded mixed Thursday, as President Donald Trump and China both ratcheted up the heat again on tariffs. Meanwhile, Nvidia and Tesla rallied on the stock market today.
After the opening bell, the Dow Jones Industrial Average pared losses to around 0.1%. The S&P 500 moved up 0.5%, while the tech-heavy Nasdaq composite rose 0.9%.
The 10-year Treasury yield ticked lower to 4.34% early Thursday. Meanwhile, oil prices rose, as West Texas Intermediate futures traded near $63 per barrel.
Among exchange traded funds, the Invesco QQQ Trust gained 0.9%, while the SPDR S&P 500 ETF moved up 0.5% after the open.
Tesla stock rallied 0.6% in early action Thursday following Wednesday's earnings-fueled 5.4% advance. Shares remain nearly 49% off their record high of 488.54, reached on Dec. 18.
Nvidia stock climbed 1.8% in morning action Thursday. Shares of the artificial intelligence giant rallied sharply for a second-straight session Wednesday, but are still far below their 50-day and 200-day moving averages.
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Stock Market Today: Trump Tariff News, Earnings Movers
Late Wednesday, President Trump said he will set new tariff rates on China in two to three weeks, but he also said if there's no China deal, it's "OK." On Thursday, Beijing said Trump should "remove all unilateral tariffs imposed on China" and denied trade talks were happening.
Meanwhile, Trump said he is not considering changes to auto tariffs, but added that he could raise auto tariffs on Canada. That came after the White House said the president may exempt automakers from certain tariffs, following a Financial Times report.
Elsewhere, the Labor Department's jobless claims rose more than expected, to 222,000. They were expected to rise to 220,000 vs. 215,000 in the previous week, according to Econoday estimates.
Key earnings movers Thursday morning included Chipotle Mexican Grill, IBM, Imax, Merck and O'Reilly Auto Parts, along with PepsiCo, Procter & Gamble and ServiceNow.
Shares of Chipotle moved up almost 1%, as IBM stock tumbled 7% in morning action. Imax shares jumped 3%. Merck edged lower, as O'Reilly shares declined 1.5%.
PepsiCo shares fell 1%, while Procter & Gamble sold off 4.4%. Finally, ServiceNow surged 11% in early morning trading.
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Dow Jones Jumps
On Wednesday, the Dow Jones Industrial Average jumped 1.1%, or 419 points, while the S&P 500 rallied 1.7% and the Nasdaq advanced 2.5%.
Due to current market volatility, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are MercadoLibre, Netflix, Spotify and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and McDonald's.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Investor also can find 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 Stocks: McDonald's Nears Buy Point
Shares of Dow Jones component McDonald's edged lower Thursday after briefly rallying above an early entry at 319.72 this week. The stock is forming a flat base with a 326.32 buy point, according to MarketSurge chart analysis.
Outside the Dow, e-commerce giant MercadoLibre offers a 2,202 buy point in a double bottom, according to IBD MarketSurge. Shares bullishly regained their 50-day line last week. MercadoLibre stock tacked on 0.1% Thursday.
Streaming giant Netflix stock is breaking out past a 998.70 buy point out of a double-bottom base. Netflix added 1.6% Thursday.
Music streaming leader Spotify has formed a double-bottom base with a 621.20 buy point. Spotify stock gained 1.8% in morning action Thursday.
Finally, Guidewire is rapidly nearing a 201 buy point in a double bottom, with a 2.2% rise Wednesday. Guidewire stock gained a fraction in early morning trades.
Keep in mind that now is not a good time to buy stocks amid heavy selling in recent weeks, but the outlook is brightening after two days of solid gains. Further, IBD currently recommends 0% to 20% stock exposure under current conditions.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Wednesday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| McDonald's | 326.32 | Flat base | |
| Spotify | 621.20 | Cup with handle | |
| TJX | 127.58 | Double bottom | |
| Netflix | 998.70 | Double bottom |
Source: IBD Data as of April 22
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks are trying to rebound from lows as Wall Street reacts to the fallout of President Trump's tariffs. One of them, Dow Jones component Amazon, rose 0.4% early Thursday, still leaving the stock sharply below its 200-day line.
IPhone maker Apple moved up 0.3% Thursday morning. Shares closed Wednesday at their highest level since early April.
Finally, software giant Microsoft gained 0.5% Thursday. Shares found resistance at their 50-day line last week.
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.
