The Dow Jones Industrial Average managed to stabilize on Thursday, aiming to end a three-day losing streak. While the Magnificent Seven companies showed mixed performance, with AI industry pioneers like Nvidia and Meta Platforms rising, Google’s parent company Alphabet stumbled. The Dow Jones index saw a rise of nearly 0.5% in afternoon trades as it reached a session high of 39,421, with the Nasdaq outperforming with a 1.1% advance.
In the stock market today, database software, specialty enterprise, solar, airline, and specialty retail stocks led the upside among IBD’s industry groups. Beyond the market, gold futures dipped slightly to $2,313 an ounce, while silver and copper experienced gains. Nvidia stock touched 900, showing positive action as it continues to show potential for a new base, while Alphabet struggled to surpass a new buy point. HubSpot also surged past a new buy point, fueled by reports of interest from Alphabet in acquiring the marketing software firm.
As investors anticipate the March nonfarm payrolls report, the stock market remains in focus as jobless claims climbed higher. Google stock showed decent relative strength despite facing challenges in surpassing a new base, while companies like Levi Strauss continued their recovery. ConAgra Brands led the charge in the market today with a more than 5% rally, while industry compatriot Lamb Weston faced challenges with an 18% drop.
