A day after a broad stock rally, the Dow Jones Industrial Average and other major indexes were mixed, as Wall Street digested retail sales data and weekly unemployment claims ahead of the market open Thursday. Meanwhile, Nvidia (NVDA) chipmaker Taiwan Semiconductor (TSM) was an early winner on the stock market today.
Ahead of the opening bell, Dow Jones futures fell 0.3% vs. fair value, while S&P 500 futures were up 0.2%. Tech-heavy Nasdaq 100 futures moved up 0.4% vs. fair value in morning trades.
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The 10-year Treasury yield ticked higher to 4.67% early Thursday, following a sharp drop from its highest level since November 2023. And oil prices eased, with West Texas Intermediate futures trading around $79.85 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) rose 0.3%, and the SPDR S&P 500 ETF (SPY) gained 0.1% ahead of the open.
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Stock Market Today: Retail Sales, Jobless Claims
In economic news, the Commerce Department’s December retail sales data showed that sales rose 0.4% on the month, below the 0.5% Econoday estimate. Excluding vehicles, sales moved up 0.4%, in line with estimates. Excluding vehicles and gas that figure climbed 0.3%, just below the 0.4% estimate, according to Econoday.
Concurrently, the Labor Department’s weekly jobless claims rose more than expected to 217,000. They were anticipated to climb to 212,000 vs. 201,000 in the previous week.
In stocks, Taiwan Semiconductor surged 5.4% after the company reported strong fourth-quarter earnings and sales results and issued a first-quarter revenue outlook above estimates due to surging demand for artificial intelligence chips.
Elsewhere, Bank of America (BAC), Morgan Stanley (MS) and UnitedHealth (UNH) were other key earnings movers Thursday morning.
Bank of America shares were slightly positive in premarket trading, while Morgan Stanley rallied 2.3%. UnitedHealth tumbled nearly 4% in early morning trading.
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Dow Jones, Indexes Rally
On Wednesday, the Dow Jones Industrial Average climbed 1.7%, while the S&P 500 surged 1.8% and the Nasdaq jumped 2.5%. Following the session’s bullish action, now is a good time to check IBD’s The Big Picture for an update on the current exposure level.
Among the best companies to watch in the current stock market are Burlington Stores (BURL), Interactive Brokers (IBKR), Intuitive Surgical (ISRG) and Meta Platforms (META).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), Microsoft (MSFT) and Walmart (WMT).
Meta and Walmart are 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: Walmart Eyes Buy Point
Dow Jones retail giant Walmart is building a flat base that offers a 96.18 buy point, according to MarketSurge pattern recognition. But it must first find support at the 50-day line. Shares edged lower Thursday.
Outside the Dow Jones index, Burlington Stores is close to a 298.88 buy point in a flat base. The retail stock dipped 0.3% in premarket action Thursday.
Interactive Brokers is just below a cup-with-handle base’s 193.41 entry. The stock was up 0.5% Thursday.
Intuitive Surgical surged above a 556.23 flat-base entry during Wednesday’s breakout move. Intuitive stock added 0.3% Thursday.
Social media platform Meta bullishly regained its 602.95 buy point during Wednesday’s rally. Shares are again finding support around their 50-day moving average. But Meta stock slipped 1.4% in Thursday’s premarket trading.
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Stock Market Today: Companies To Watch
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 |
|---|---|---|---|
| Interactive Brokers | (IBKR) | 193.42 | Cup base |
| American Express | (AXP) | 307.82 | Flat base |
| Intuitive Surgical | (ISRG) | 556.23 | Flat base |
| Meta Platforms | (META) | 602.95 | Flat base |
Source: IBD Data as of Jan. 13
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Nvidia Rises, Tesla Falls
Nvidia rebounded another 1.5% Thursday morning, looking to add to Wednesday’s 3.4% bounce. Shares remain squarely below their 50-day line, a potential resistance level to watch.
Electric-vehicle giant Tesla (TSLA) raced more than 8% higher Wednesday. Shares found support around their 10-week line.
But Tesla stock threatened to give up a part of those gains, as it was down 1.1% in premarket trading Thursday.
Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which rallied 2.6% Wednesday to find support at the 50-day line. That’s a new buying opportunity for the e-commerce giant. It added 0.4% in premarket action Thursday.
Shares of Apple rebounded sharply Wednesday, just shy of recovering above their 50-day moving average. And they tacked on 0.3% early Thursday.
Microsoft shares gained 0.2% Thursday morning, as they continue to consolidate below their 50-day line. Shares jumped 2.6% during Wednesday’s rally.
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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