On Thursday, the Dow Jones Industrial Average continued to rise following surprising jobless claims and retail sales data. Additionally, cryptocurrency stock Coinbase (COIN) experienced a surge in the stock market.
Following the opening bell, the Dow Jones Industrial Average increased by 0.55%, while the S&P 500 saw a 0.25% uptick. However, the Nasdaq composite declined by 0.1% in morning trading.
Key highlights from the day included a decrease in initial unemployment claims to 212,000, contrary to expectations of a rise to 219,000. Moreover, January’s retail sales dropped by 0.8% following a better-than-expected gain in December.
Major earnings movers included Albemarle (ALB), CF Industries (CF), Cisco Systems (CSCO), and Crocs (CROX), among others. Coinbase saw a 6% surge in morning trade, as its shares continued to build a cup base.
In terms of the overall market, the Dow Jones Industrial Average had climbed by 0.4% the previous day, while the S&P 500 and Nasdaq composite also experienced gains. Amidst the ongoing stock market rally, it is crucial to monitor changing market conditions for potential investment opportunities.
Highlighted stocks to watch in the market rally included Lennar (LEN), MongoDB (MDB), Samsara (IOT), UiPath (PATH), Procter & Gamble (PG), and Walmart (WMT), with some showing promising growth potential.
Additionally, notable stocks like Nvidia (NVDA) and Tesla (TSLA) saw varying movements in morning trading. Apple (AAPL) and Microsoft (MSFT), both Dow Jones leaders, experienced a decrease after the market open.
To stay updated on growth stocks and the stock market, follow Scott Lehtonen on X. Also, utilize resources like IBD’s ETF Market Strategy and Long-Term Leaders for long-term investment ideas.
