Dow Jones futures, along with other stock indexes, appeared to rebound from Thursday’s selloff as Wall Street digested a stronger-than-expected jobs report. Meanwhile, the actions of Magnificent Seven Metaplatforms (META) And Nvidia (NVDA) rose on the stock market today, but You’re here (TSLA) abandoned.
X
Dow Jones futures rose 0.2% in morning trading, while S&P 500 futures gained 0.3%. Tech-heavy Nasdaq 100 futures climbed 0.4% before the opening bell.
The 10-year Treasury yield rose to 4.39%. Additionally, oil prices added to six days of gains, with West Texas Intermediate futures trading around $86.70 a barrel, their highest level in 2024.
Among us exchange traded fundsthe Invesco QQQ Trust tracker Nasdaq 100 ETF (QQQ) is up 0.4%, while the SPDR S&P 500 ETF (TO SPY) increased by 0.3%.
Stock Market Today: Jobs Report
The Labor Department’s March jobs report showed the U.S. economy added 303,000 jobs, far more than the 200,000 estimated. The unemployment rate fell to 3.8%; it should remain at 3.9%, according to Econoday estimates.
In merger news, Johnson & Johnson (JNJ) agreed to buy Medical shockwave (CRUSH) for $12.5 billion. J&J shares rose 0.2% and Shockwave shares rose 1.5% in premarket trading.
Seven magnificent actions Meta and Nvidia climbed 1.2% and 0.7% respectively, while Tesla fell 0.3% on Friday morning.
Meta shares briefly rose above the 515.05 level during a short consolidation on Thursday. But the stock gave up its early gains, closing below the buy trigger.
Nvidia slipped 3.4% on Thursday, closing at its lowest level since March 11. The artificial intelligence giant is a IBD Ranking Stocks.
And Tesla rebounded 1.7% on Thursday, paring this week’s losses. Stocks remain more than 40% off their 52-week high as they look to test their 50-day line, a key resistance area to watch.
Be sure to read about how to adapt to changing market conditions, with IBD’s new exposure levels.
Dow Jones falls
Major stock indexes reversed lower on Thursday after giving up solid gains. The Dow Jones Industrial Average rose 0.8% before ending 1.4% lower. The S&P 500 and Nasdaq composite indexes – up 0.9% and 1.2% respectively at midday – finished with losses of 1.2% and 1.4%. The small-cap Russell 2000 index fell 1.1%.
Thursday’s Big Picture Column commented: “To help reduce your exposure to stocks, sell the losers and take some profits on the winners to avoid too much potential decline if today’s weakness persists into Friday and next week.”
Now is an important time to read Chronicle The Big Picture by MII amid the continuing stock market rally. Be sure to read how to adapt to changing market conditions, with New levels of IBD exposure.
Learn to Time the Stock Market with IBD’s ETF Market Strategy
Best Stocks to Watch in the Stock Market Today
Parent Google Alphabet (GOOGLE), Arista Networks (Aneta), DraftKings (DKNG) And ServiceNow (NOW) — plus Dow Jones components Disney (SAY), IBM (IBM) And VerizonCommunications (VZ) – are among the best companies to watch on the stock market today.
ServiceNow is featured in this Column Stocks close to a buying zone.
An essential resource for daily escapes is IBD MarketSurge’s “Breaking Out Today” list. This shows MarketSurge Growth 250 stocks that exceed new buy points, such as HubSpot (HUBS). Meanwhile, MarketSurge’s “Near Pivot” list shows stocks near buy points in the bases.
To find more action ideas, check out IBD Stock Lists as MII 50, Large cap 20 And Stocks close to a buy zone. These features identify uptrends and buy points and can be checked daily.
Receive real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones: Disney, IBM, Verizon
Disney- the strongest component of the Dow Jones during the first trimester – extends beyond the 112.92 of a large cup base with handle point of purchaseaccording to Increase in ITN market graphical analysis. Shares fell another 1.6% on Thursday, back in buy range. Disney stock rose slightly Friday morning.
IBM stock threatened to abandon its 50-day line, with a drop of 1.6% on Thursday. Shares remain below the 196.90 buy point on a flat basis. IBM stock rose 0.9% on Friday.
Telecom giant Verizon attempts to break out above the 43.21 entry of a cup base, as the stock rebounds bullishly from its 50-day line. Verizon shares added 0.3% Friday morning.
4 Most Important Growth Stocks to Watch in the Stock market rally
Stock market today: DraftKings eyes buy point
Alphabet is back below a 153.78 buy point during a consolidation, with the stock losing 2.8% on Thursday. Google stock fell slightly on Friday.
Arista shares again dropped off a flat base of 292.66 point of purchaseaccording to Market increase charts, with a drop of 3.4% on Thursday. And on Friday, the stock climbed 0.4% in the morning.
DraftKings is attempting to retake its 46.52 buy point as part of a short consolidation amid two days of gains. And the sports betting giant rose 0.1% Friday morning.
Finally, ServiceNow continues to encounter resistance at the 50-day line this week. Stocks build a flat base with an entry of 815.32. The stock rose 0.8% on Friday.
Stocks to watch
These are four stocks that are in or near buy zones in the current stock market.
| Company Name | Symbol | Correct purchase point | Point of purchase type |
|---|---|---|---|
| Disney | (SAY) | 112.92 | Cup with handle |
| Arista Networks | (Aneta) | 292.66 | Flat base |
| DraftKings | (DKNG) | 45.62 | Consolidation |
| ServiceNow | (NOW) | 815.32 | Flat base |
Source: MII data as of April 1, 2024
Join IBD experts as they analyze the top stocks in the current stock market rally on IBD Live
Dow Jones leaders: Apple, Microsoft
Among Dow Jones Stocks in the Magnificent Seven, Apple (AAPL) And Microsoft (MSFT) traded higher before the stock market opens on Friday.
Apple stock fell 0.5% on Thursday, returning to recent lows. Stocks remain significantly below their long-term 200-day line. The stock added 0.6% Friday morning.
Microsoft Shares slipped 0.6% on Thursday, still holding above its 50-day line. And the stock rose 0.5% Friday morning.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen to learn more about growth stocks, the Dow Jones Industrial Average and the stock market today.
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