The Dow Jones Industrial Average fell on Thursday as initial jobless claims came in higher than expected. Cisco Systems (China Association for Science and Technology) and Walmart (WMT) crashed on disappointing earnings report.
The Labor Department said initial jobless claims rose to 231,000, from 217,000 the previous week. The number is expected to climb to 222,000. In addition, the Philadelphia Federal Reserve Bank’s manufacturing index unexpectedly rose to -5.9 in November, compared with -9.0 in October. A slight decline to -11.0 is expected.
early Thursday, Cisco Systems The company’s shares tumbled nearly 12% after the company reported fiscal first-quarter earnings later Wednesday that beat expectations, even as product orders fell again. The company’s outlook for CSCO stock in the current January-end quarter is much lower than expected.
at the same time, Walmart fell more than 6% The company warned that consumer spending may be weakening. However, Walmart’s third-quarter results did beat expectations, with earnings of $1.53 per share on sales of $160.8 billion. Analysts expected earnings of $1.52 per share and revenue of $159.65 billion.
Walmart’s plunge contrasts with other big retailers Target (TGT) surged nearly 18% on Wednesday on earnings news. Target fell 2.1% on Thursday.
Dow Jones Today: Oil Prices, Treasury Bond Yields
After trading opened on Thursday, the Dow Jones Industrial Average fell 0.1% and the S&P 500 rose 0.1%. The tech-heavy Nasdaq index was slightly lower in early trading.
The U.S. 10-year Treasury yield fell to 4.48%, with the benchmark closing at 4.53% on Wednesday.
West Texas Intermediate crude futures fell more than 1%, with oil prices likely to fall for a third consecutive session. WTI prices are trading below $76 a barrel, back near recent lows.
Stock market rebounds
On Wednesday, the Dow Jones Industrial Average rose another 0.5%, while the S&P 500 gained 0.2%. The Nasdaq index, which is dominated by technology stocks, reduced its gain to just 0.1%.
Wednesday’s Big Picture Column Commented: “Therefore, selling pressure is not unusual. And the confirmed uptrend is driven by November 1 follow-up day Still, the tech- and retail-rich Nasdaq Composite index remains intact. “
Now is an important time to read IBD’s Big Picture Column After the recent rally, be sure to read how to invest as the stock market continues to rise.
Stock market today: The most noteworthy stocks
IBD rankings in stock Amazon (Amazon), along with free market (Melly), Immediate service (Now) and toll brothers (Thor) — and the Dow Jones stock Intel (International Trade Centre), Walmart and UnitedHealth (united nations institutes of health)—is one of the most noteworthy stocks in the current market rebound.
Dow Jones Stocks to Watch
Chip giant Intel extends above 37.22 buy some According to, in the double bottom base IBD Market Smith graph analysis. Intel shares rose 3.05% on Wednesday, breaking through an additional buy point of 40.07. Earlier Thursday, INTC was up nearly 1%.
Retail giant Walmart closed Wednesday in buy range above 165.85 Buy some. But WMT shares fell 6.5% Thursday morning after the company reported earnings.
Healthcare giant UnitedHealth is adding a handle on massive consolidation and showing a new buy point at 546.78. UNH shares edged higher on Thursday.
Stocks to Buy and Watch: Toll Brothers Breakout
Amazon gave up a 145.86 buy point during Wednesday’s 1.8% decline. Shares remain above the early entry point of 134.48. Amazon shares fell 1.9% on Thursday.
MercadoLibre further breaks through 1,398.59 buy point, according to IBD MarketSmith Pattern Recognition, up 0.8% on Wednesday. MELI stock fell 0.7% on Thursday morning.
ServiceNow moved out of the buy range with the double bottom base 607.90 entry point. The 5% buy zone rises to 638.30. The pattern can also be interpreted as a flat bottom with a 614.36 buy point. NOW shares fell 0.4% on Thursday.
Homebuilder Toll Brothers remains in buy territory following Tuesday’s breakout, above the Handle Cup’s 82.39 buy point. The buy zone rises to 86.51. TOL shares were up 0.6% on Thursday morning.
The best stocks on today’s stock market trend
Here are four of the most interesting stocks to watch in the stock market today, including the leader of the Dow Jones.
|Company Name||symbol||The right buying point||Point of purchase type|
|UnitedHealth||(united nations institutes of health)||546.78||Process entries|
|toll brothers||(Thor)||82.39||cup with handle|
|free market||(Melly)||1,398.59||cup with handle|
Source: IBD data as of November 14, 2023
Seven major stocks: Nvidia, Tesla
Despite falling 1.55% on Wednesday, graphics chip giant Nvidia remains in buy territory, above a double bottom of 476.09 points.
Tesla Stock It rose more than 2% on Wednesday, rising for four consecutive sessions. Shares are trying to decisively clear the 50-day moving average after retracing the 200-day moving average earlier this week. Shares are down about 20% from their 52-week high.
Dow Jones Index leaders: Apple, Microsoft
two Dow Jones Stocks In the Seven Heroes, apple (AAPL) and Microsoft (Microsoft Corporation), the trading volume is higher After the stock market opens todayApple shares rose 0.3% on Wednesday, closing at their highest level since September 5. Shares are trading above an early entry of 182.34 as they continue to track consolidation with a 198.23 buy point. Apple shares rose 1.1% on Thursday.
Microsoft shares fell 0.2% on Wednesday, retreating from a record high of 373.13 points. The stock is trading above a 366.78 buy point. In recent weeks, shares have risen to an early buy trigger of 346.20. MSFT shares were up 0.6% on Thursday morning.
Be sure to follow Scott Lehtonen on X (formerly Twitter): @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.
You might also like: