The stock market surged in premarket trading on Thursday, with the Dow Jones industrial average and other major stock indexes buoyed by a strong earnings report from Nvidia. The chip maker Nvidia’s stock soared by double digits ahead of the opening bell due to a surprise in jobless claims numbers. This led to Dow futures climbing 0.5% and the S&P 500 futures rallying 1.3%, while the Nasdaq 100 futures were up 2%. Additionally, among U.S. exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust ETF was up 2%, and the SPDR S&P 500 ETF moved up 1.3%.
The Labor Department’s jobless claims unexpectedly fell to 201,000, significantly lower than the 212,000 in the previous week, a figure that was expected to rise to 216,000. This positive surprise in jobless claims numbers contributed to the market’s upward surge. Additionally, several key earnings movers for the day included companies like Dutch Bros, Etsy, Lucid Motors, Mosaic, Planet Fitness, and Rivian. This high level of activity and movement in the market reflects the momentum and volatility currently present in the stock market.
Furthermore, in relation to individual stocks, Procter & Gamble saw gains and Walmart was out of buy range past a specific entry. Moreover, the article highlighted several best stocks to buy and watch in the current market rally, including companies like Birkenstock, Lennar, and Toll Brothers. This further emphasizes the high level of activity and opportunities in the current stock market environment. This activity is indicative of the ongoing movement and potential for strategic investment opportunities in the market.
