The Dow Jones Industrial Average and other major stock indexes traded modestly higher Thursday, after higher-than-expected weekly unemployment claims from the U.S. Labor Department. Two losers in early action were Arm Holdings, as the Nvidia partner tumbled after reporting earnings, and Roblox, which crashed in light of weak revenue numbers on the stock market today.
After the opening bell, the Dow Jones Industrial Average rose 0.1%, while the S&P 500 added 0.3%. The tech-heavy Nasdaq composite moved up 0.2% in early morning trades.
The 10-year Treasury yield ticked higher to 4.43% early Thursday. And oil prices rose, with West Texas Intermediate futures trading around $71.65 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was up 0.2%, as the SPDR S&P 500 ETF gained 0.3% after the open.
Nvidia partner Arm tumbled nearly 5% Thursday after the company beat analyst estimates for the chip designer's fiscal third quarter but offered an outlook that was in line with analyst views. Arm stock closed Wednesday about 8% off its 52-week high.
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Jobless Claims; Earnings Movers
Early Thursday, the Labor Department's jobless claims rose more than expected, coming in at 219,000 vs. 207,000 in the previous week. They were expected to rise to 215,000, per Econoday.
In stocks, AstraZeneca, Bristol-Myers, Eli Lilly and Ford Motor, along with MicroStrategy, Qualcomm, Ralph Lauren, Roblox and Tradeweb Markets were big earnings movers Thursday morning.
AstraZeneca rallied nearly 5% in morning action, while Bristol tumbled nearly 4%. Shares of Eli Lilly moved down nearly 1%, as Ford stock skidded more than 5%.
Roblox lost nearly a third of its value at one point Thursday, briefly crashing by more than 30% in premarket trading before opening about 19% lower. The company beat earnings views but missed sales estimates. Roblox also provided a light revenue outlook for the first quarter and the full year.
Meanwhile, Ralph Lauren shares rallied by more than 13% as Tradeweb moved up 0.9% in early trading. And MicroStrategy gained 0.7%, while Qualcomm sold off 5.5%.
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Stock Market Today: Dow Jones Rises
On Wednesday, the Dow Jones Industrial Average rose 0.7%, while the S&P 500 gained 0.4% and the Nasdaq moved up 0.2%.
Among the best companies to watch in the current stock market are Netflix, Royal Caribbean, Shopify and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves were Amazon, Microsoft and Salesforce.
Amazon was featured in this Stocks Near A Buy Zone column.
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 software giant Salesforce has added a handle to a cup base, taking the buy point to 367.09, according to MarketSurge pattern recognition. Shares dived 5% Thursday.
Outside the Dow Jones index, streaming giant Netflix is moving out of the buy zone past a 941.75 entry in a flat base following recent gains. Shares dipped slightly Thursday.
Cruise operator Royal Caribbean is squarely in a buy range above a 258.79 flat-base entry amid two days of gains. The stock added 0.6% Thursday morning.
Shopify broke out past a 120.27 buy point Wednesday. Previously, the stock topped a 115.37 double-bottom entry. Shopify shares tacked on 0.3% Thursday.
Retailer TJX is approaching a 128 buy point in a flat base, as the stock continues to find support at its 50-day moving average. TJX stock was up 0.4% 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 |
|---|---|---|---|
| Netflix | 941.75 | Flat base | |
| Walmart | 96.18 | Flat base | |
| Spotify | 506.47 | Flat base | |
| Meta Platforms | 602.95 | Flat base |
Source: IBD Data as of Jan. 28
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Nvidia, Tesla Mixed
Artificial intelligence titan Nvidia surged more than 5% Wednesday, retaking its long-term 200-day moving average. Shares of the Dow Jones component remain below their 50-day line, the next resistance level to watch. Nvidia stock climbed 1.2% Thursday.
Also, Tesla skidded 3.6% Wednesday, further below the 50-day line. That's a key level to watch for the Elon Musk-led company. Shares are about 22% off their 52-week high. Early Thursday, Tesla stock fell another 3%, hitting its lowest level since early December.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which is in buy range above a 233 entry in a flat base. That's a new buying opportunity for the e-commerce giant. It rose 0.6% in morning action Thursday after hitting a new high Tuesday. Earnings are due Thursday after the close.
Apple shares inched lower Wednesday, continuing to consolidate below the 50-day line. But shares rose 0.2% Thursday.
Finally, software giant Microsoft was up 0.9% Thursday. Shares plunged below their 50-day line last week after the company's earnings results.
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.
