The Dow Jones Industrial Average and other major stock indexes traded mixed Thursday as Wall Street reacted to President Donald Trump's tariff update. Meanwhile, Nvidia was an earnings loser on the stock market today.
After the opening bell, the Dow Jones Industrial Average traded up 0.2%, while the S&P 500 dropped 0.3%. The tech-heavy Nasdaq composite moved down 1% in early morning trades.
The 10-year Treasury yield ticked higher to 4.29% early Thursday. And oil prices rose, as West Texas Intermediate futures traded around $69.40 per barrel.
Among exchange traded funds, the Invesco QQQ Trust moved down 1%, while the SPDR S&P 500 ETF lost 0.3% ahead of the open.
Early Thursday, President Trump posted on Truth Social that the tariffs on Canada and Mexico will go into effect on March 4 and that China will be charged an additional 10% tariff on that date. Meanwhile, reciprocal tariffs will go into effect on April 2.
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Nvidia Stock Slides On Earnings
Nvidia reversed lower Thursday, sliding 3.7% after the company beat Wall Street's targets for its fiscal fourth quarter and guided above views for the current period. Shares are looking to retake a key level, the 50-day moving average.
Other big earnings movers Thursday were C3.ai, eBay, Embraer, Heico, Salesforce and Snowflake.
Shares of C3.ai tumbled 9%, while eBay stock dived 10%. Embraer shares rose 5%, as Heico stock jumped 11%. Salesforce stock sold off 4%. Finally, Snowflake soared 7% in morning trading.
In economic news, the fourth-quarter GDP reading remained unchanged from the previous estimate, at 2.3%, and in line with estimates. And personal consumption expenditures also held steady at 4.2%, meeting estimates.
Weekly jobless claims reported by the Labor Department jumped to 242,000, much more than expected. They were expected to rise to 224,000, according to Econoday, vs. 219,000 in the previous week, as economists watch closely for the impact from federal layoffs.
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Stock Market Today: Dow Jones Falls
On Wednesday, the Dow Jones Industrial Average dropped 0.4%, while the S&P 500 edged higher and the Nasdaq rose 0.3%. Check out IBD's The Big Picture column for an updated recommended exposure level for the current stock market conditions.
Among the best companies to watch in the current stock market are Booking, Pinterest and Wells Fargo.
Along with Apple and Nvidia, Dow Jones components making notable moves Wednesday were Amazon.com, Microsoft and Goldman Sachs.
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: Goldman Sachs In Buy Range
Dow Jones component Goldman Sachs is trying to find support around a flat base's 612.73 buy point, according to MarketSurge pattern recognition. Shares were down 0.2% Thursday.
Outside the Dow, IBD Leaderboard name Wells Fargo is just below a cup base's 78.13 buy point amid a string of losses. Wells Fargo stock gained 0.8% early Thursday.
Travel site Booking is building a cup with handle that has a 5,282 buy point. Shares declined 1.5% Thursday.
And Pinterest stock is adding a handle to a big cup base following the earnings-fueled surge of 19% on Feb. 7. The buy point is 40.90. Shares fell more than 1% 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.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Toast | 41.50 | Cup with handle | |
| Goldman Sachs | 612.73 | Flat base | |
| Wells Fargo | 78.13 | Cup base | |
| 40.90 | Cup with handle |
Source: IBD Data as of Feb. 21
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Tesla Stock Slides
Tesla skidded another 4% Wednesday, extending a losing streak to five sessions. Shares are at their Nov. 6 and are more than 40% off their 52-week high.
But Tesla stock sold off another 2% in early morning trading Thursday.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Dow Jones component and Magnificent Seven stock Amazon triggering a sell signal after falling below a 233 buy point last week. Amazon reversed down 0.7% early Thursday.
Apple, which sold off 2.7% Wednesday, is trying to find support at the 50-day line. Shares are building the right side of a new base that offers a 260.10 entry. But they rose 0.1% in morning trades Thursday.
Finally, software giant Microsoft moved up 0.1% Thursday. Shares are sharply below their 50-day line and at their lowest level since early August.
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.
