The Dow Jones Industrial Average and other major indexes edged lower in premarket action Thursday, with a U.S. Labor Department unemployment report on the day's agenda. One stock on the plus side was Nvidia (NVDA), which looked to extend its win streak on the stock market today.
Ahead of the opening bell, Dow Jones futures dipped less than 0.1%, as did S&P 500 futures. Tech-heavy Nasdaq 100 futures inched lower as well in morning trades.
↑ XEarly Thursday, the 10-year Treasury yield ticked higher to 4.21%. Oil prices edged lower, as West Texas Intermediate futures traded around $68.50 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) fell a fraction, as did the SPDR S&P 500 ETF (SPY) ahead of the open.
Nvidia stock rose a fraction premarket Thursday, with the artificial intelligence titan looking to extend a win streak to five sessions. Shares have bullishly rebounded from their 50-day moving average line. That placed Nvidia stock in a new buy area as shares approach new highs.
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Bitcoin topped $100,000 for the first time Wednesday night, exceeding the late November peak of $99,768. It ran up as high as $103,844. It's currently slightly below $103,000.
Crypto-related stocks and ETFs were strong movers in the premarket, including Coinbase Global (COIN) and MicroStrategy (MSTR). Coinbase stock jumped nearly 5%, while MicroStrategy rallied more than 8%.
Earnings movers Thursday morning include Dollar General (DG), Five Below (FIVE), Kroger (KR), SentinelOne (S) and Synopsys (SNPS).
Dollar General stock rallied 1.5%, while shares of Five Below jumped nearly 15%. Kroger shares sank nearly 5%, while SentinelOne stock plunged more than 14%. Synopsys shares tumbled nearly 8% in premarket trading.
Early Thursday the Labor Department's initial jobless claims rose more than expected, at 224,000 vs. 213,000 in the previous week. They were expected to rise to 215,000. The weekly data suggests ongoing strength in the employment market.
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On Wednesday, the Dow Jones Industrial Average rose 0.7%, while the S&P 500 gained 0.6% and the Nasdaq composite advanced 1.3%.
Among the best companies to watch on the stock market today are Embraer (ERJ), Taylor Morrison Home (TMHC), TJX (TJX) and Tradeweb Markets (TW).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), Microsoft (MSFT) and Travelers (TRV).
Apple featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that moving above correct buy point. 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 Travelers is just below a 269.56 buy point in a flat base, according to MarketSurge pattern recognition. Shares gained 1.2% Thursday.
Outside the Dow Jones index, IBD Leaderboard stock Taylor Morrison Home is back at its 50-day line and below a 71.95 buy point amid recent losses. Shares gained 0.3% early Thursday.
Embraer remains below a 37.30 flat-base entry after declines in recent sessions. Shares climbed 1% Thursday morning.
Retailer TJX is above a 121.13 flat-base entry and in buy range following strong gains. TJX stock added 0.4% in early Thursday trading.
Finally, Tradeweb closed Wednesday still below a 136.13 entry in a flat base. Tradeweb stock lost 0.4% in premarket action Thursday.
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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 |
|---|---|---|---|
| Tradeweb | (TW) | 136.13 | Flat base |
| Sherwin-Williams | (SHW) | 392.57 | Flat base |
| Broadcom | (AVGO) | 186.42 | Consolidation |
| TJX | (TJX) | 121.13 | Flat base |
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Among Magnificent Seven stocks, Alphabet (GOOGL) rose 0.4% before the opening bell. Shares had plunged below their 50-day line in recent weeks, but are now rebounding.
Meta Platforms (META) is breaking out past a flat base's 602.95 entry and in buy range. Shares moved up 0.2% Thursday.
Tesla climbed 0.5% premarket Thursday, looking to add to Wednesday's gains. Shares are approaching a new 52-week high.
Among Dow Jones components in the Magnificent Seven, Amazon stock rallied sharply in recent sessions, decisively retaking a 201.20 buy point and hitting new highs. It added 0.3% in premarket trading Thursday.
Shares of Apple are breaking out above a flat base's 237.49 entry. The stock was up 0.2% Thursday morning.
Microsoft shares climbed 0.2% Thursday morning. The stock closed Wednesday at its highest level since Sept. 19.
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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