Dow Jones Falls After Unemployment Data; Alibaba jumps on profits

The Dow Jones Industrial Average fell Thursday morning after the first jobless claims data. Investors now await the highly anticipated July jobs report on Friday.


Key earnings engines on Thursday include shelter him (SUNRISE), Ali Baba (slime) Y WHAT (WHAT). They were also on the move IBD classification table stocks Cheniere Energy (LNG), Quantum services (can), elf beauty (ELF), eBay (eBay) Y fortnite (FTNT).

Albemarle’s shares rose nearly 4% in strong earnings results. Alibaba rebounded 6%. APA shares fell 3.5%. Cheniere lost 1%. Quanta shares traded down more than 1%. ELF shares gained more than 4%. eBay fell 4%. fortnite fell more than 10%.

Tesla (TSLA) traded around 1% earlier Thursday. Elsewhere, Dow Jones Technology Leaders Apple (AAPL) Y Microsoft (MSFT) were slightly flatter before stock market today open. Y walmart (WMT) lost a fraction after the Wall Street Journal reported the company is laying off hundreds of workers in a restructuring effort due to falling profits.

In the strengthening stock market environment, Dow Jones stocks Chevron (CLC) Y United Health (UNH) – as much as equinor (EQNR), exxonmobile (XOM) Y Vertex Pharmaceuticals (VRTX), are among the actions to be taken into account. Note that the current stock market volatility is a reason to stay more conservative despite recent signs of strength.

Quanta, UnitedHealth, and Vertex are IBD classification table stocks. Chevron and Exxon were featured in this week’s edition Stocks near a buy zone column. ExxonMobil was IBD day stock for Friday.

Dow Jones Today: Treasury Yields, Oil Prices, Jobless Claims

The Dow Jones Industrial Average lost 0.1%, while the S&P 500 gained slightly more. The Nasdaq Tech Composite gained 0.3% in morning trading.

Among exchange traded fundsNasdaq 100 follower Invesco QQQ Trust (QQQ) rose 0.3%. And the SPDR S&P 500 ETF (TO SPY) lost less than 0.1%.

The 10-year Treasury yield ticked lower at 2.71% on Thursday morning, on pace to snap a two-day winning streak. The 10-year Treasury yield is trying to recover after hitting its lowest level since early April. Meanwhile, US oil prices fell as West Texas Intermediate futures traded below $90 a barrel.

Unemployment claims for the first time went out at 8:30 am ET. Initial jobless claims rose to 260,000 from 256,000 the previous week, in line with Econoday estimates. On Friday morning, the Labor Department’s July jobs report will be released. The US economy is expected to have added 250,000 jobs in July with an unemployment rate of 3.6%.

stock rally

Wednesday’s bull session saw gains of 2.6% on the Nasdaq, 1.3% on the Dow Jones Industrial Average, 1.4% on the Russell 2000 and 1.6% on the large-cap S&P 500. .

Wednesday’s Big Picture column commented: “Volume is up 19% on the Nasdaq compared to the day before. That’s bullish. You want to see institutions piling stocks with abandon, especially during strong days like Wednesday.”

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Five Dow Jones Stocks to Watch Now

Dow Stocks to Watch: Chevron, UnitedHealth

Dow Jones energy giant Chevron is building the right side of a cup base that has a buy point of 182.50. Keep an eye out for a potential handle to offer a lower entry. Chevron shares were down 0.2% on Thursday.

The health insurance giant IBD classification table UnitedHealth stock remains range-buying above the 518.80 buy point of its handle double-bottom base amid Wednesday’s 1% gain, according to IBD MarketSmith chart analysis. Stocks fell on Thursday.

UNH shares shows a solid 94 from a perfect 99 IBD Composite Classification, for him IBD stock check. Investors can use the IBD Composite Rating to easily gauge the quality of a stock’s fundamental and technical metrics.

4 top growth stocks to watch in the Current stock market rally

Top stocks to watch: Equinor, Exxon, Vertex

IBD classification table Watch-listed stock Equinor is trading just shy of the 38.80 buy point of a double bottom after Wednesday’s 1.9% drop. Shares fell 2% on Thursday morning.

Friday IBD Day Stock Exxon Mobil retraced the 50-day line last week and overcame an aggressive early entry around 93.24. But the energy giant gave up those two key levels on Wednesday, falling 3.2%. Meanwhile, a cup base entry at 105.67 is also up for grabs. XOM shares traded 1% lower early Thursday.

Vertex Pharmaceuticals continues to trade below the 279.23 buy point of its tumbler and 50-day line in a recent skid. The company will report its earnings on Thursday night. Vertex shares added 1% earlier.

Join IBD experts as they discuss the top stocks in the current stock market rally on IBD Live

Tesla Stock

Tesla shares rose another 2.3% on Wednesday, extending a winning streak to six sessions. Stocks are at their highest level since early May, but are still trying to decisively clear resistance around their 200-day line, which is a key level to watch.

The shares were up about 1% on Thursday morning.

Dow Jones Leaders: Apple, Microsoft

Among dow jones stocksApple shares rose 3.8% on Wednesday, moving higher on the right side of a new base. The stock fell 0.2% on Thursday morning.

Microsoft gained 2.8% on Wednesday as shares recovered from two straight days of losses. The software giant is still below its 200-day long-term line. The stock closed about 20% below its 52-week high. Microsoft was down 0.4% early Thursday.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.


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