By Dow Jones futures and the other major stock indexes fell modestly Thursday, as Wall Street digested a weaker-than-expected ADP jobs report. A big mover on the stock market today was Tesla (TSLA), which said it plans to roll out self-driving software in Europe and China next year.
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Indexes Hold Firm After Sell-Off; MakeMyTrip, Tyler Tech, DaVita In Focus
Ahead of the opening bell, Dow Jones futures fell marginally vs. fair value, as S&P 500 futures dropped 0.3%. Tech-focused Nasdaq 100 futures sank 0.6% in early trading.
Early Thursday, the 10-year Treasury yield held steady at 3.77%. Oil prices rose, as West Texas Intermediate futures traded around $69.50 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) was down 0.6%, as the SPDR S&P 500 ETF (SPY) fell 0.3% ahead of the open.
Tesla stock raced nearly 3% higher Thursday morning after the company announced plans to launch its full self-driving driver assistance software in the first quarter of 2025 in Europe and China, pending regulatory approval. The announcement came in an X post.
Forget Amazon And Tesla. This Non-Magnificent Seven Stock Dwarfs Their Gains.
Stock Market Today
Early Thursday, ADP’s jobs report showed an increase of 99,000 in August, down from July’s 122,000 reading. The report was expected to show an increase of 140,000 in August, per Econoday estimates.
Further, the Labor Department’s weekly jobless claims are scheduled for 8:30 a.m. ET. Claims are expected to fall to 230,000 vs. 231,000 in the previous week.
And on Friday, the U.S. economy is expected to have added 160,000 jobs in August vs. July’s much lower-than-expected 114,000 rise. The unemployment rate is expected to inch lower to 4.2%.
Key earnings movers Thursday included AeroVironment (AVAV), C3.ai (AI), Credo Technology (CRDO), Nio (NIO) and Toro (TTC).
AeroVironment shares dropped nearly 1%, while C3.ai plunged more than 18%. Credo stock tumbled more than 10%, while Nio shares moved up 4%. Finally, Toro shares dipped slightly in morning action.
Nvidia Stumbles, Tesla Skids While This Mag 7 Stock Is Ripe For A Breakout
Dow Jones Rises
On Wednesday, the Dow Jones Industrial Average rose 0.1%, while the S&P 500 fell 0.2%. The tech-heavy Nasdaq composite dropped 0.3%.
During Wednesday’s IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market today.
Now is an important time to read The Big Picture column amid the ongoing market action. Also, be sure to read how to adjust to changing market conditions, with IBD’s new exposure levels.
Microsoft Shoves Nvidia Aside As Tesla’s Status Remains In Doubt
Stock Market Today: Best Stocks To Watch
Among the best companies to watch on the stock market today are Arista Networks (ANET), Costco Wholesale (COST), Meta Platforms (META) and Netflix (NFLX).
Also on the list are Dow Jones components Amazon (AMZN), Apple (AAPL), Home Depot (HD), IBM (IBM) and Microsoft (MSFT).
Arista Networks featured in this Stocks Near A Buy Zone column.
There was one new stock on IBD MarketSurge‘s “Breaking Out Today” list Wednesday, notably Insulet (PODD), which topped a 209.35 buy point. Further, there are a handful of stock ideas on the site’s “Near Pivot” list.
These are top stocks nearing new buy points, like Taiwan Semiconductor Manufacturing (TSM). The stock is nearing a 175.45 cup-with-handle entry, and it rose 0.7% Thursday morning.
To find more stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Get Real-Time Buy And Sell Alerts On Stock Market Leaders With IBD Leaderboard
Dow Jones: Home Depot, IBM
Among Dow Jones components, Home Depot is adding a new handle buy point at 378.58, according to MarketSurge pattern recognition. Shares inched up Thursday morning.
Meanwhile, IBM is in buy range past its latest entry, a cup-with-handle buy point at 196.26. IBM stock lost 0.1% Thursday.
Outside the Dow Jones index, Arista Networks broke support at the 50-day moving average this week. A 358.68 buy point is in play. Shares edged lower early Thursday.
Retail giant Costco remains below its 896.67 cup-base entry despite Wednesday’s rebound. The stock was unchanged Thursday morning.
Streaming giant Netflix is under its late-stage cup base’s 697.49 buy point following this week’s losses. Netflix stock was down 0.4% Thursday premarket.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | (RACE) | 442.80 | Flat base |
| Shake Shack | (SHAK) | 111.29 | Cup base |
| ServiceNow | (NOW) | 806.52 | Handle entry |
| Birkenstock | (BIRK) | 61.83 | Flat base |
Source: IBD Data as of Aug. 27
Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live
Magnificent Seven Stocks: Meta, Nvidia, Alphabet
Among Magnificent Seven stocks, Meta Platforms, Nvidia (NVDA) and Alphabet (GOOGL) traded lower in premarket trading.
Meta stock attempted a breakout above a 542.81 buy point in recent weeks, but now sits squarely below the entry. Shares fell 0.5% premarket action Thursday.
Nvidia declined another 1.7% Wednesday, adding to Tuesday’s plunge. Shares are below their 50-day line and declined 1.8% Thursday.
Google-parent Alphabet is trying to find support around the 200-day line. After falling Wednesday, shares traded even lower in early trades Thursday.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon, Apple and Microsoft traded mixed ahead of Thursday’s stock market open.
Amazon shares are back at potential support at their 200-day moving average. The stock climbed 0.8% Thursday morning.
Apple stock is within striking distance of a new buy point at 237.23, but gave up support at the 50-day line. Apple fell 0.7% in recent action.
Microsoft shares are back at their 200-day line. A new base is taking shape. And on Thursday morning, the stock moved down 0.7%.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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