Futures rebound ahead of jobless claims

Dow Jones futures fell while other major stock indexes shrugged off Federal Reserve-induced losses on Thursday as investors digested an unexpected rise in unemployment data. Seven major stocks Amazon (Amazon) and apple (AAPL) reports earnings after the close.


Before the opening, the Nasdaq 100 index, which is dominated by technology stocks, rebounded 0.5% in pre-market, the Dow Jones index fell less than 0.1%, and the S&P 500 index rose 0.3%.

between us exchange traded fundsNasdaq 100 index tracker Invesco QQQ Trust (QQ) rose 0.6%, while the SPDR S&P 500 ETF (spy) rose 0.4%.

The 10-year Treasury yield continued to plummet, falling to 3.9%. Elsewhere, oil prices are expected to rebound from Wednesday, with West Texas Intermediate crude futures rising 1%. WTI futures are trading near $76.50 a barrel.

On Thursday morning, the U.S. Department of Labor reported a higher-than-expected number of first-time jobless claims, rising to 224,000 from 214,000 the previous week. Jobless claims are expected to hold steady at 214,000, according to Econoday estimates.

Other economic reports will be released on Thursday, including the final reading of the S&P Global Manufacturing Purchasing Managers’ Index for January. The index is expected to rise to 50.3, unchanged from its mid-month reading. PMI will be released at 9:45 a.m.

Additionally, the Institute for Supply Management’s manufacturing index is expected to remain unchanged at 47.4 in January.Readings are expected to be released at 10 a.m.

Earnings Report: Amazon and Apple will release earnings reports

Key profit drivers on Thursday include Alignment technology (ALGN), Merck (MRK), next tracker (NXT), Qualcomm (Qualcomm), royal caribbean (RCL) and tractor supply (taiwan steel).

Align’s stock price soared 15%, Nextracker soared 17% in early trading; Dow Jones giant Merck rose 1.6% in early trading, and Qualcomm’s stock price fell 2%; finally, Royal Caribbean’s stock price rose more than 3%, while Tractor Supply’s stock price fell 1%.

Looking to the future, Seven major stocks Amazon and Apple will report earnings after the close. Amazon shares are just off recent highs, while Apple shares have given up on the key 50-day line in recent sessions.

Dow Jones Slides

On Wednesday, the Dow Jones Industrial Average fell 0.8% and the S&P 500 fell 1.6%. The tech-heavy Nasdaq fell 2.2%.

Wednesday’s Big Picture Column The commentary read: “The worst moment of the day’s selling came after Fed Chairman Powell said at a press conference that the Fed was unlikely to start lowering the cost of money in March. But in fact, the bond market did not “There is also little confidence that the federal funds rate will be lowered from the current range of 5.25%-5.5% at the next Fed meeting in two months.”

Now is an important time to read IBD’s Big Picture Column As the stock market continues to rise. Be sure to read How to Adapt to Changing Market Conditions, New exposure levels for IBD.

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The best stocks to buy

Draft king (East Ken NG), KKR (KKR), Novo Nordisk (NVOCC) and snowflake (Snow) — plus Dow Jones constituents Amgen (AMGN), Merck and Walmart (WMT) – is one of the stocks worth buying and paying attention to during the current market rebound.

KKR and Walmart Featured content of the Stocks Near Buying Zone column.DraftKings is a IBD rankings Follow KKR Stock IBD Swing Trader.

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Dow Jones: Merck’s earnings rise

Biotech leader Amgen edged lower on Wednesday, staying outside of a 5% buy range based on an official buy point of 288.46. The 5% buy zone rises to 302.88. Amgen shares fell slightly on Thursday.

Based on Thursday’s gains, drugmaker Merck breaks through cup bottom 119.65 buy point IBD MarketSmith Pattern RecognitionShares fell 0.8% on Wednesday, closing just above their entry point.

Discount retail giant Walmart remains in buy territory, above 163.57 points, despite falling slightly on Wednesday. The stock rose 0.9% in early trading Thursday.

4 Growth Stocks to Watch Stock market rebounds

DraftKings holds buy point

IBD Ranking Watch List Stocks DraftKings fell 3.1% on Wednesday, closing just above its official double bottom buy point of 38.97. DraftKings shares rose 1.4% Thursday morning.

IBD SwingTrader Stock Despite falling 1.3% on Wednesday, KKR remains above its 85.66 flat floor. The stock was up 1.6% on Thursday morning.

Shares of diet pill maker Novo Nordisk rose 5.2% on Wednesday and broke above a buy range of $105.69, a flat buy point. Novo Nordisk shares fell 1.3% early Thursday.

Software leader Snowflake fell 5.1% on Wednesday, giving up a 202.83 buy point. IBD Market SmithSnowflake shares rebounded 0.6% on Thursday.

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Best picks in action today

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
Novo Nordisk (NVOCC) 105.69 flat base
Merck (MRK) 119.65 cup holder
Draft king (East Ken NG) 39.35 cup holder
Spotify (point) 202.88 flat base
Source: IBD data as of January 31, 2024

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Seven major stocks: Nvidia, Tesla

Seven major stocks Nvidia (NVDA) and Tesla (Tesla) were up 1% before the market opened on Thursday.

Nvidia shares rose 0.5% on Wednesday, essentially flat after breaking out on Jan. 8, and are up more than 20% from a 505.48 buy point. Shares hit more all-time highs.

Tesla shares fell 2.2% on Wednesday, ending a three-day winning streak and moving back near recent lows.

Dow leader: Apple

among Dow Jones Stocks Among the Big Seven, Apple and Microsoft (Microsoft Corporation) traded higher Before the stock market opens on Thursday.

Apple shares fell 1.9% on Wednesday, falling for six consecutive trading days, closing below the 50-day moving average. The stock price is about 6% away from the 196.38 buy point. Shares rose a further 0.5% in early trading on Thursday. The company’s profit results.

Microsoft shares fell 2.7% on Wednesday, moving back into buy territory on a flat basis, above a 384.30 buy point. The software giant’s shares were up 0.9% 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.

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