The Dow Jones Industrial Average dropped 0.2% on Thursday, while the S&P 500 moved down 0.3%, and the Nasdaq composite fell 0.5%. The tech-heavy index reacted to better-than-expected weekly unemployment data.
Nvidia (NVDA) was an early name to watch in the stock market, as it hit a new buy point on Tuesday. However, its shares declined 0.9% Thursday morning. Nvidia’s AI division is expected to make a significant impact, with shares forming a double-bottom base that offers a 146.54 entry.
Other notable stocks to watch include Disney (DIS), which approached a 118.63 buy point in a cup with handle; BlackRock (BLK), just under a 1,068.34 buy point; and Burlington Stores (BURL), above its 279.51 buy point in a cup with handle.
The Labor Department’s jobless claims unexpectedly fell to 219,000, beating expectations of 223,000. The Dow Jones Industrial Average rallied 0.9% on Tuesday, while the S&P 500 climbed 1.1%, and the Nasdaq advanced 1.4%. Other stocks making notable moves include Amazon (AMZN), Apple (AAPL), and Microsoft (MSFT).
In other news, Tesla (TSLA) surged 7.4% on Tuesday, adding to Monday’s gains. The electric-vehicle giant is building a cup with handle that has a 456.16 buy point.
As the market continues to navigate the complexities of the economy, investors should keep an eye on these stocks and follow IBD’s MarketSurge and ETF Market Strategy for timely insights and analysis.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-nvidia-buy-point-nvda-stock