Stocks continued their strong performance in morning trading Thursday, with the Dow Jones Industrial Average nearing the 40,000 mark and other major indexes reaching new all-time highs. The Labor Department released initial unemployment claims data, and Reddit is set to debut on the stock market today.
Diverting from the financial news, the Dow Jones Industrial Average surged 0.7%, approaching 39,800, while the S&P 500 and Nasdaq composite also saw gains. U.S. exchange-traded funds like the Invesco QQQ Trust ETF and SPDR S&P 500 ETF were up as well.
Additionally, the 10-year Treasury yield rose to 4.27%, and oil prices saw a slight drop to $81.20 a barrel. The Reddit IPO is expected to launch today, with the company’s valuation at $6.4 billion.
Economic reports from the Labor Department showed an increase in jobless claims and a decline in the Philadelphia Fed manufacturing index. Existing home sales rose unexpectedly in February.
Earnings reports from companies like Academy Sports & Outdoors, Chewy, and Darden Restaurants were released, impacting their stock prices. Despite some declines, others like KB Home and Micron Technology saw positive movements.
In the market, Disney, IBM, and Procter & Gamble are among the top stocks to watch. Arista Networks, Duolingo, Dexcom, and DraftKings are also showing promise.
Overall, the stock market is showing strong performance, with notable companies like NVIDIA and Tesla making headlines. Investors can stay updated with market trends through various resources and tools available.
