The Dow Jones Industrial Average, along with other stock indexes, recovered from Thursday's selloff as Wall Street digested a stronger-than-expected jobs report. Meanwhile, the amazing seven stocks Meta platforms (Meta) and Nvidia (NVDA) rose in the stock market today, but Tesla (D.S.L.A) was abandoned.
X
The Dow Jones industrial average rose 0.3% in morning action, while the S&P 500 added 0.6%. The technology-focused Nasdaq composite rose 0.7% after opening hours.
The 10-year Treasury yield rose to 4.37%. Also, oil prices added six days of gains as West Texas Intermediate futures traded at $86.90 a barrel, their highest level since 2024.
Among U.S. exchange-traded funds, the Nasdaq 100 Tracker Invesco QQQ Trust ETF (QQQ) rose 0.7%, while the SPDR S&P 500 ETF (espionagerose 0.6%.
Stock Market Today: Employment Report
The Labor Department's March jobs report showed the U.S. economy added 303,000 jobs, beating estimates by 200,000. The unemployment rate fell to 3.8%; It was expected to be flat at 3.9%, according to Econoday estimates.
In the attachment message, Johnson & Johnson (J.N.J) agreed to buy Shock wave medicine (Swat) $12.5 billion. J&J shares fell 0.3%, and Shockwave shares rose 1.6% in early trading.
Magnificent Seven shares Meta and Nvidia rose 1.7% and 1.6%, respectively, while Tesla fell 1.7% in Friday morning action.
Meta shares briefly topped out at 515.05 in a short consolidation on Thursday. But the stock gave up its early gains and ended below the buy trigger.
Nvidia slipped 3.4% on Thursday, ending at its lowest level since March 11. Artificial intelligence firm IBD Leaderboard Stock.
Tesla rose 1.7% Thursday, paring this week's losses. Shares are above 40% of their 52-week high as they look to test their 50-day line, a key resistance area to watch.
Learn how to adjust to changing market conditions, along with IBD's new exposure levels.
Dow Jones Falls
On Thursday, major stock indices edged lower after giving solid gains. The Dow Jones industrial average rose as much as 0.8% before ending with a 1.4% decline. The S&P 500 and Nasdaq composite ended with losses of 0.9% and 1.2%, respectively, during midday trading – 1.2% and 1.4%. The small-cap Russell 2000 fell 1.1%.
In Thursday's Big Picture column, “If today's weakness persists into Friday and into next week, reduce your exposure to stocks, sell the losers and take some profit on the winners.”
It's an important time to read IBD's The Big Picture column amid the continuing stock market rally. Learn how to adjust to changing market conditions, along with IBD's new exposure levels.
Learn how to time the stock market with IBD's ETF Market Strategy
Best stocks to watch in the stock market today
Google-Parents letters (Google), Arista Networks (Aneta), Draft Kings (D.K.N.G) and Service now (Now) — and Dow Jones components Disney (DIS), IBM (IBM) and Verizon Communications (VZ) – is one of the best companies to watch in the stock market today.
ServiceNow is featured in a buy zone column next to these stocks.
An essential resource for daily breakouts of IBD MarketSurge “Breaking Out Today” list. It shows Market Surge Growth 250 Such as exit stocks crossing new buy points HubSpot (Hubs) Meanwhile, the MarketSurge “Near Pivot” list shows stocks near buy points in bases.
Check out the IBD Stock Lists to find more stock ideas IBD 50, Big cap 20 and stocks near a buy zone. These features identify bullish patterns and buy points and are available to check every day.
Get real-time buy and sell alerts for stock market leaders with the IBD Leaderboard
Dow Jones: Disney, IBM, Verizon
According to IBD MarketSurge chart analysis, Disney — the strongest Dow Jones component in the first quarter — broke through the 112.92 buy point of a large cup-with-handle base. Shares fell another 1.6% on Thursday, again in buy range. Disney shares fell 0.4% Friday morning.
IBM stock fell 1.6% Thursday, threatening to break its 50-day streak. Shares remain below the 196.90 buy point of a flat base. IBM shares rose 0.4% on Friday.
Telecom giant Verizon is trying to break out above Cup Base's 43.21 entry as the stock bounces back from its 50-day line. Verizon shares lost 0.7% Friday morning.
4 Best Growth Stocks to Watch Stock market rally
Today's stock market: DraftKings is the buy point
Alphabet is below a 153.78 buy point on a consolidation as the stock lost 2.8% on Thursday. Google shares rose on Friday.
Arista shares returned to a 292.66 flat-base buy point Market rise Charts, Thursday with a 3.4% decline. On Friday, the stock rose 0.7% in morning action.
DraftKings is trying to retrace its 46.52 buy point amid two days of gains in a short consolidation. And the sports-betting giant was down 0.3% on Friday morning.
Finally, ServiceNow is seeing resistance at the 50-day line this week. Shares formed a flat base with an entry of 815.32. Shares silver rose 0.5%.
Stocks to watch
These are four stocks that are in or near buy zones in today's stock market.
| Name of the company | Symbol | Perfect buying point | Type of point of purchase |
|---|---|---|---|
| Disney | (DIS) | 112.92 | Cup with handle |
| Arista Networks | (Aneta) | 292.66 | Flat base |
| Draft Kings | (D.K.N.G) | 45.62 | Integration |
| Service now | (Now) | 815.32 | Flat base |
Source: IBD data as of April 1, 2024
Join IBD experts as they analyze the leading stocks in the current stock market rally on IBD Live
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones stocks in the Magnificent Seven, Apple (APL) and Microsoft (MSFT) trading higher after the stock market opened on Friday.
Apple shares fell 0.5% on Thursday, returning to their recent lows. Shares are sharply below their long-term 200-day line. The stock added 0.4% on Friday morning.
Microsoft shares fell 0.6% on Thursday, still holding above their 50-day line. The stock was up 0.5% in early Friday trading.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average and today's stock market.
You may also like:
Best growth stocks to buy and watch
Learn how to time the market with IBD's ETF Market Strategy
Find the best long-term investments with IBD Long-Term Leaders
Nvidia Partner AI Leads Megatrends to 3,594% Gain – More to Come
Sell ​​spot buy points and signals with MarketSurge pattern recognition
