The Dow Jones Industrial Average rose from session lows and ended near the day's highs Thursday, but other indexes closed about the middle of the day's price range.
Stocks rose in the early going after initial jobless claims for the week ended Dec. 9 fell from the prior week to 202,000. That was also lower than a consensus estimate of 223,000, according to Econoday. Elsewhere, retail sales showed a 0.3% increase in November though it was seen falling by 0.1%. The "just right" Goldilocks mix boosted indexes that were already buoyed by a dovish Fed stance Wednesday.
The Dow was 0.4% higher at the close while the S&P 500 rose 0.3% after being up as much as 0.7% in the stock market today. The Nasdaq ran into negative territory in the afternoon but gained 0.2% at the finish line Thursday.
Volume on the NYSE and on the Nasdaq was higher compared with the same time on Wednesday. Advancers beat decliners by more than a 3-1 ratio on the NYSE and 2-1 on the Nasdaq.
The small-cap Russell 2000 had a field day with a 2.7% gain.
The Innovator IBD 50 ETF underperformed and fell 0.1%.
The yield on the benchmark 10-year Treasury note dived 10 basis points to 3.93%.
U.S. crude oil soared nearly 3% to $71.46 a barrel amid prospects of rate cuts.
Dow Jones Stocks
Intel soared but gave up some gains after the company launched new AI chips for data centers. Goldman Sachs and Caterpillar led gains in the Dow, each up about 6%, while UnitedHealth and Microsoft lagged with losses of more than 2%.
Outside the Dow, Jabil gapped up and retook its 50-day moving average after announcing earnings. Sales declined to $8.4 billion but earnings grew 13% to $2.60 per share. Jabil joins the S&P 500 index on Monday. Shares broke out of a double-bottom base with 1,334.93 buy point. The stock gained 13% on Thursday.
Adobe fell on a weak outlook. The AI play tested support at the 50-day moving average.
Lennar rose nearly 7% with earnings due after the market close. Shares are extended from a breakout at 131.27. The stock is one of many in the housing sector rallying as Treasury yields tumble.
Costco rose slightly in extended trading after earnings were announced. Shares are extended.
Small Caps Soar, Tesla Flashes Buy Signal, But These Giants Sit Out
Magnificent Seven, Moderna Stock
Among the Magnificent Seven, Meta fell but remained in a buy zone. The social media giant launched Threads in Europe on Thursday. Amazon.com also tested the buy zone. Both META and AMZN are on IBD Leaderboard. Also on Leaderboard, Arm rallied past a buy zone from an IPO base.
Also outside the Dow Jones, Moderna soared and cleared the 50-day moving average after positive data from a combined treatment for melanoma using its cancer vaccine and Merck's Keytruda. The stock gave up some gains but ended 9% higher.
IBD 50 stock Super Micro Computer has retaken the 50-day moving average and is approaching an alternate buy point of 306.52. Atlassian broke out of a cup base with a buy point of 215.77.
Also in software, Monday.com broke out at 189.15 from a cup base. A handle entry at 185.81 is also viable. In building products, Builders FirstSource and Terex broke out as well.
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