Futures for the Dow Jones, S&P 500, and Nasdaq remained relatively stable after hours, leading up to the release of the May jobs report on Friday. The stock market showed minimal activity on Thursday following record highs for the Nasdaq and S&P 500 the previous day.
Nvidia saw a reversal on Thursday as CEO Jensen Huang filed to sell shares and with an imminent stock split. Meanwhile, Chipotle Mexican Grill, Pinterest, Amazon.com, and Elastic showed buy signals. GameStop surged after an announcement by meme investor “Roaring Kitty,” while “AI plays” in the cooling and power generation sector experienced losses. Vertiv closed below its 50-day line for the first time in months.
In the evening, Samsara and DocuSign surpassed quarterly expectations but both saw sharp declines in trading. Despite DocuSign announcing a buyback program, its stock fell. Nvidia, Pinterest, and Chipotle stocks are featured in various investment rankings. Chipotle was also highlighted as the Stock Of The Day on Thursday.
The release of the jobs report the following morning is expected to impact Dow Jones futures and Treasury yields. Economists anticipate an increase in nonfarm payrolls in May, with other labor market indicators pointing to a slight easing in labor markets.
The stock market had a quiet session on Thursday, with major indexes closing narrowly mixed. U.S. crude oil prices saw a rise, while Treasury yields continued on a six-session losing streak.
Nvidia’s stock reached record highs before dropping slightly on Thursday. CEO Jensen Huang’s trading plan and an upcoming stock split contributed to market activity. Apple and Microsoft stocks also saw movements.
Certain stocks like Chipotle, Pinterest, and Amazon were noted to be in buy zones as they showed positive movements on Thursday. GameStop experienced a surge linked to an announcement from “Roaring Kitty.”
Overall, market analysis suggests that quiet market activity after significant movements is positive, especially with the anticipation of the jobs report. Considering the potential impact of external factors like Nvidia’s stock split, investors are advised to stay informed and ready to adjust their portfolios accordingly.
