Dow Jones falls due to sudden jobless claims; Apple plunges into expanded ban on China

The Dow Jones Industrial Average fell on Thursday after initial jobless claims released by the Labor Department. Meanwhile, Apple shares fell after The Wall Street Journal reported China has ordered officials in central government agencies not to use iPhones and other foreign-branded devices at work.


Early Thursday, jobless claims fell for the first time to 216,000. They were expected to rise to 238,000 vs. 228,000 in the previous week.

Meanwhile, the main earnings drivers on Thursday include: American eagle (power operators), C3. ai (Amnesty International), GameStop (GME), Sprinkler (CXM) And UiPath (road).

AEO stock was up nearly 2% in morning trade, while AI stock collapsed nearly 16%. GME stock jumped more than 3%. Finally, Sprinklr shares are up about 5%, while PATH shares are up more than 8%.

stock market today

electric car giant Tesla (TSLA) fell by more than 2% on Thursday, while nvidia (NVDA) decreased by 3%. Among the technology leaders in the Dow Jones Index, apple (Camel) was hard, while Microsoft (MSFT) was trading slightly lower, after the stock market opened today.

Among other stock market leaders the alphabet (Google) And Meta platforms (meta). GOOGL shares fell 0.6% and Meta shares fell 0.1% in early trading.

Adobe (ADBE), Baker Hughes (BKR), Cadence design systems (CDNS), Shopify (Shop) And summary (Snaps) – as well as Dow Jones shares ibm (ibm) And visa (Fifth) — among the top stocks to watch in the ongoing stock market rally.

Adobe is an IBD Leaderboard stock and is featured in the Stocks Close to Buy column.

Dow jones today: oil prices and treasury yields

After Thursday’s opening bell, the Dow Jones Industrial Average fell 0.2%, while the S&P 500 lost 0.7%. The Nasdaq Composite Index, which was dominated by technology stocks, fell 1.3% in morning trading PDD Holdings (PDD) And ASML Holding (ASMLTrading is harder.

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Among the US exchange-traded funds is the Nasdaq 100 Invesco QQQ Trust (QQQ(down 1.3%, while the SPDR S&P 500 ETF declined)spy) fell 0.4% early Thursday.

Early moves on Thursday also showed the yield on the 10-year US Treasury note at 4.3%, looking to extend a three-day winning streak.

Early Thursday, oil prices stalled after a series of sharp gains. West Texas Intermediate crude futures were down about 0.5% in morning trading, trading above $87 a barrel.

Top five Dow stocks to buy and watch right now

stock market trend

On Wednesday, the Dow Jones Industrial Average fell 0.6%, while the S&P 500 fell 0.7%. The high-tech Nasdaq Composite Index sold off 1.1%.

The Big Picture column on Wednesday commented: “While the S&P 500 ended lower for the day, at 4465 it is still low below the 50-day moving average. The stock market is widely seen as healthy when Major indices are trading above the 50 day lines, not below them.”

Now is an important time to read IBD’s “Big Picture” column, as the stock market tries to extend its recent gains after pulling back sharply from this year’s highs.

IBD MarketDiem’s ​​latest newsletter gives you actionable stock, options and cryptocurrency insights straight into your inbox.

Dow Jones shares: IBM, Visa

The leading IBM Dow Jones breaks through the handle cup buy point of 146.50. Shares of IBM rose on Thursday, after falling slightly on Wednesday.

Dow payments leader Visa surpassed its latest entry, a flat buy point, of 245.37 points, according to IBD MarketSmith pattern recognition. V shares fell 0.3% on Thursday.

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4 top growth stocks to buy and watch at stock market rally

Stocks to watch: Adobe, Baker, Cadence, Shopify, Synopsys

IBD leader Adobe stock clears the buy point of 552.94 in a short consolidation amid recent gains. Stocks are in the buy zone by 5%. ADBE stock fell 1.7% early Thursday. Adobe reports its third-quarter financial results on September 14th.

Oilfield equipment and services company Baker Hughes cleared a buy point at 36.48 in a narrowing pattern, according to IBD MarketSmith. BKR stock fell slightly in early morning trade.

Cadence Design Systems is flat with a buy point of 248.16. The shares moved above the early entry at 237.91 last week and are about 1% away from the next entry. CDNS fell 0.8% on Thursday.

Last week, Shopify shares jumped above the 50-day line by significant amounts. Buy point 71.43 at the base of the cup is about 7% away. The stock has breached the downtrend line drawn from the July high. Meanwhile, another early entry looms at 67.60. SHOP stock is down 2% Thursday morning.

IBD’s last 50 stock pick, Synopsys, is within striking distance of the 468.03 flat base entry. SNPS stock fell on Thursday.

Learn how to time the market with IBD’s ETF Market Strategy

Best stocks in the stock market business

These are the four best stocks to buy and watch in the stock market today, including the leader of the Dow Jones Index.

Company Name Code The right point of purchase Point of purchase type
Adobe (ADBE) 552.94 merge
visa (Fifth) 235.57 Flat base
slb (slb) 58.70 mug with handle
summary (Snaps) 468.03 Flat base
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Source: IBD data as of September 6, 2023

Join IBD experts as they analyze the leading stocks on the current stock market rally on IBD Live

Tesla shares

Tesla stock fell 1.8% on Wednesday, continuing to bounce between resistance around the 50-day line and support at its 21-day exponential moving average. For now, investors can use Thursday’s high of 261.18 as an early entry. TSLA stock has an official buy point of 299.29.

And on Thursday morning, TSLA stock fell another 2.1% in early trade.

Dow Jones Index Leaders: Apple, Microsoft

Among Dow Jones stocks, Apple fell 3.6% on Wednesday, ending a seven-day winning streak and returning below the 50-day line. Despite Wednesday’s decline, AAPL stock is building a Cuban base with a buy point of 198.23. AAPL stock fell 3.5% early Thursday.

Microsoft shares have also tested the 50-day line in recent sessions, with a slight drop on Wednesday. On Thursday morning, the stock was down 0.4%.

Be sure to follow Scott Lehtonen on X/Twitter at @IBD_SLehtonen Learn more about growth stocks and the Dow Jones Industrial Average.

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