The stock market opened lower on Thursday morning as Dow Jones futures, along with the other major indexes, declined after weaker-than-expected weekly unemployment claims and quarterly GDP data were reported. Notably, technology giant Salesforce saw a substantial drop in its stock price following its earnings report, while Nvidia was on track to reach new record highs.
Before the start of trading, Dow Jones futures were down 0.8%, indicating a negative market open. S&P 500 futures also dropped by 0.3%, and Nasdaq 100 futures fell by 0.2%. The 10-year Treasury yield decreased slightly to 4.59%, and oil prices dipped to around $78.70 per barrel.
Among individual stocks, Salesforce plummeted nearly 17% due to mixed earnings results, while Nvidia remained relatively stable despite recent record highs. Other companies like Best Buy, C3.ai, and Foot Locker also experienced significant movements in their stock prices following earnings reports.
Merck, Microsoft, Netflix, and Crocs were highlighted as companies to watch due to their performance in the stock market. Microsoft, in particular, was nearing a potential buy point, while Tesla and other Dow Jones leaders like Apple and Microsoft were also closely monitored.
Overall, the stock market presented several investing opportunities and potential risks that investors needed to navigate carefully. It’s crucial to stay informed about market conditions and read analysis reports to make well-informed investment decisions.
