The Dow Jones Industrial Average and other major indexes traded lower in premarket action Thursday as Wall Street awaited more inflation data on the heels of Wednesday's consumer price index. An early earnings loser on the stock market today was Adobe (ABDE), which plunged ahead of the market open.
Ahead of the opening bell, Dow Jones futures fell 0.1% vs. fair value, while S&P 500 futures dropped 0.2%. Tech-heavy Nasdaq 100 futures moved down 0.4% in morning trades.
↑ XEarly Thursday, the 10-year Treasury yield ticked higher to 4.3%. Oil prices extended their gains, as West Texas Intermediate futures traded around $70.50 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) fell 0.4%, while the SPDR S&P 500 ETF (SPY) dipped 0.2% ahead of the open.
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Late Wednesday, Adobe handily beat Wall Street's targets for its fiscal fourth quarter. But its sales and earnings outlook for 2025 was below views. Adobe stock plunged nearly 11% in premarket trading.
The U.S. Labor Department's producer price index for November is expected to rise 0.3% on the month, with an annual increase of 2.6%. The core PPI, excluding food and energy, is estimated to rise 0.2% in November, with a year-over-year increase of 3.2%. The PPI data is due at 8:30 a.m. ET.
Meanwhile, the Labor Department's first-time jobless claims are expected to fall to 220,000 from 224,000 in the previous week. Claims are due out at 8:30 a.m. ET.
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On Wednesday, the Dow Jones Industrial Average declined 0.2% to extend a losing streak to five sessions, while the S&P 500 climbed 0.8% and the Nasdaq advanced 1.8%.
Among the best companies to watch on the stock market today are Broadcom (AVGO), BlackRock (BLK), Manhattan Associates (MANH) and Trip.com (TCOM).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), IBM (IBM), Microsoft (MSFT) and Nvidia (NVDA).
BlackRock is 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 leader IBM is just below a 237.37 buy point in a cup base, according to MarketSurge pattern recognition. Shares added 0.2% Thursday.
Outside the Dow Jones index, artificial intelligence giant Broadcom is within striking distance of a 185.05 double-bottom entry following Wednesday's rally. Broadcom stock fell 1% early Thursday.
BlackRock is above a 1,068.34 buy point in a four-weeks-tight pattern. BlackRock stock rallied 1.3% in premarket trading.
Manhattan Associates is just shy of a 306.63 handle entry after a 1% gain Wednesday. Shares inched higher Thursday morning.
Trip.com shares soared 8.7% Monday, staging a breakaway gap past a 69.67 buy point. During a breakaway gap, investors can use the high price of the first five-minute bar as a reasonable entry. For Trip.com, that places the buy point at 76.75. The Chinese travel stock gained 2% Thursday morning.
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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 |
|---|---|---|---|
| BlackRock | (BLK) | 1,068.34 | Tight area |
| IBM | (IBM) | 237.37 | Cup base |
| Broadcom | (AVGO) | 185.05 | Double bottom |
| Manhattan Associates | (MANH) | 306.63 | Handle entry |
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Nvidia stock slipped 0.6% in premarket action Thursday, threatening to give back a part of Wednesday's rally. Shares remain at their 50-day line, a critical level to watch. A heavy volume breach of this level would trigger a sell signal, while a decisive rebound would place the AI titan in a new buy area.
Electric-vehicle giant Tesla (TSLA) rose 0.4% premarket Thursday, on pace to extend a win streak to seven sessions. Tesla stock is set to hit more all-time highs at the market open.
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Besides Nvidia stock, another Dow Jones component in the Magnificent Seven is Amazon stock, which has rallied sharply in recent weeks. During that advance, the e-commerce giant decisively regained a 201.20 buy point and hit new highs. It edged lower in premarket trading Thursday.
Shares of Apple are in buy range above a flat base's 237.49 entry as they hit new highs this week. The stock gained 0.1% Thursday morning.
Microsoft shares moved down 0.2% Thursday morning. This week, the stock reached its highest level since late July.
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.
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