The Dow Jones Industrial Average and other major indexes closed mixed Thursday following a strong start for the session. Investors appeared unimpressed by President Donald Trump's chip tariff plan while broader U.S. import levies went into effect. But a new space stock was a bright spot on the stock market today.
The Dow Jones average fared the worst of the major indexes with its 0.5% drop, or loss of 224 points, despite a 3.2% gain for Apple. The 30-stock index sank below its 21-day exponential moving average. Caterpillar stock was a loser on the Dow after a ratings downgrade.
The S&P 500 struggled, with the benchmark index ending the day 0.1% lower. However, the Nasdaq composite dug out of a hole and climbed 0.4%. Small caps on the Russell 2000 shed 0.3%.
Volume was roughly 5% higher on the Nasdaq exchange and slightly lower on the New York Stock Exchange compared with Wednesday, in preliminary numbers. On the Nasdaq exchange, losers beat gainers by nearly 3-to-2. On the NYSE, falling stocks edged out rising ones.
The 10-year Treasury yield inched up to 4.25%. Oil prices sank to around $63.70 a barrel.
This IBD 50 Name Dives
IBD 50 stock TSS plunged 23.1% after the company reported flat second-quarter earnings with sales that beat expectations. The giant drop below a 10-week moving average in heavy volume triggered a sell signal. TSS sells technology to data centers.
The stock has been an outperformer as seen in its 99 IBD Relative Strength Rating and it's gained around 83% so far this year. TSS stock also holds a 98 Composite Rating.
Market Fades But 5 Stocks Flash Buy Signals; More Big Movers Late
3:25 p.m. ET
This New Issue Soars; Nvidia Weakens From A High
Highly anticipated new issue Firefly Aerospace began trading at 70 on the Nasdaq stock exchange Thursday afternoon. This far exceeded the initial offering at 45 apiece on nearly 19.3 million shares. The stock was temporarily halted due to the volatility to the upside. Shares traded around 63 in recent action.
Firefly is a space and defense technology company. It had a successful moon landing with its Blue Ghost lander earlier this year.
In other stock news, IBD 50 and IBD Leaderboard name Nvidia was flat in recent action. The Dow stock reached a new high on the stock market today, before fading.
Shares inched into the 20% profit zone from the 153.13 buy point of a V-shaped consolidation pattern before retreating. Nvidia stock formed a bullish three-weeks-tight pattern with a 183.30 add-on entry.
1:57 p.m. ET
Stock Market Today: These Names Break Out
IBD 50 name Triple Flag Precious Metals rallied more than 8% and broke out of a flat base with a 25.45 buy point. Shares are near the top of the 5% buy range that stretches to 26.72 and reached an all-time high Thursday.
The gold stock's relative strength line hit a 52-week high, as shown by the blue dot on its weekly chart.
Triple Flag exceeded second-quarter profit and revenue forecasts. The company is a gold and silver streaming and royalty company with exposure to the Americas and Australia.
After initially dropping to start the session, AppLovin rallied nearly 12% and broke out of an early-stage cup base with a 428.99 buy point. Shares are in the buy zone up to 450.44.
The IBD SwingTrader name topped second-quarter sales and earnings estimates. It also gave a third-quarter revenue outlook that was above views. AppLovin's software platform enables mobile app developers to market, monetize and analyze their apps.
12:37 p.m. ET
Big Movers: Caterpillar Sinks
Dow stock Caterpillar fell nearly 3% after Morgan Stanley downgraded the heavy equipment maker to a sell rating from hold. Moreover, the company missed second-quarter profit estimates on Tuesday.
Shares fell back below their 418.50 buy point of a cup-with-handle base after they had been in the buy zone since their breakout on July 23. The stock undercut its 21-day exponential moving average on the stock market today.
Celsius Holdings soared around 18% after the energy drink maker crushed second-quarter profit and revenue forecasts. Its earnings grew 18% and sales rocketed up 84%. This followed three straight quarters of declining profits and sales. Shares reclaimed their 50-day moving average.
Insulet rose more than 4% but trimmed larger gains. The insulin pump maker handily topped second-quarter earnings and sales projections. It also raised its full-year 2025 sales guidance.
e.l.f. Beauty fell more than 12% in heavy trading, despite the cosmetics company exceeding fiscal first-quarter profit and sales estimates. The stock undercut its 200-day moving average.
10:59 a.m. ET
Bitcoin May Join 401(k) Plans
The 10-year Treasury yield edged lower to 4.23%. Oil prices sank to around $64.60 a barrel.
Bitcoin bumped up to over $116,400 in recent action. Bitcoin got a boost as President Donald Trump is expected to sign an executive order allowing cryptocurrencies in 401(k) retirement plans, according to CNBC.
Among exchange traded funds, the Invesco QQQ Trust gained 0.5% while the SPDR S&P 500 ETF was flat.
Chip Tariff News Lifts These Stocks
Late Wednesday, Trump said he will impose a 100% tariff on imported semiconductors and chips. Exceptions were made for companies making products in the U.S. or planning to do so.
The exclusion lifted Dow component Apple by 2.6%. Taiwan Semiconductor popped up 5%. Meanwhile, Nvidia stock gained more than 1% and touched an all-time high.
Stock Market Today: Intel Slides After Trump Post
Intelstock skidded 3%. In addition to the tariff news, Trump posted on his Truth Social account that the company's new Chief Executive Lip-Bu Tan should "resign immediately."
He claimed the chipmaker's leader is "highly conflicted," appearing to reference Tan's previous business dealings in China. Intel stock has underperformed as seen in its 34 IBD Relative Strength Rating.
Earnings Movers: Airbnb Plummets
Airbnb fell 7% as the vacation-rental booking company cautioned that its recent expansion could weigh on profit growth. It beat on second-quarter earnings and sales forecasts. It also announced a $6 billion share buyback program.
Its third-quarter revenue guidance midpoint lagged estimates and it expects its adjusted EBITDA margin, a measure of profitability, to be lower in the third and fourth quarters.
Symbotic plunged 15% after the robotic technology developer reported a larger-than-expected fiscal third-quarter loss. It also gave fiscal fourth-quarter sales guidance below projections.
Shares reversed from a record high set on Tuesday and are extended after a rapid run that began in June.
Duolingo rocketed 28% after topping second-quarter earnings and sales projections. Shares reclaimed their 50-day and 200-day moving averages in enormous volume.
9:41 a.m. ET
Dutch Bros Soars On Earnings
Dutch Bros soared more than 17% higher, set to retake its 50-day moving average for the first time since early July.
Late Wednesday, the company reported strong second-quarter results, fueled by a 6.1% increase in in-store sales. The drive-through coffee shop also raised its full year 2025 sales outlook.
9:07 a.m. ET
Dow Jones Movers: Apple, Cisco, Nvidia
Inside the Dow Jones Industrial Average, Apple, Cisco Systems and Nvidia were among the best performers on the stock market today.
Apple stock rallied again, climbing nearly 3%, on pace to add to Wednesday's 5.1% jump. The tech titan said it is increasing its U.S. investment to $600 billion over the next four years, with a $100 billion manufacturing program.
Cisco shares tacked on 0.9%, moving closer to a 69.78 flat-base entry. And Nvidia stock advanced 1.3%, eyeing a record high.
8:39 a.m. ET
Stock Market Today: Jobless Claims Rise
Early Thursday, the Labor Department said that initial unemployment claims climbed to 226,000, coming in higher than expected. They were anticipated to rise to 220,000 vs. 218,000 in the previous week.
8:07 a.m. ET
Earnings Movers: Eli Lilly Plunges
Drug giant Eli Lilly plunged more than 6% after the company's weight-loss drug trial data disappointed investors. Meanwhile, Eli Lilly reported strong second-quarter earnings and sales results, beating estimates, and raised its full-year profit and revenue outlook.
Other key earnings movers Thursday included AppLovin, DoorDash, DraftKings and Fortinet.
AppLovin shares declined 1%, while DoorDash jumped nearly 9%. DraftKings surged more than 8% higher, as Fortinet crashed 21% in premarket trading.
Stock Market Today: Trump Tariff News, Jobless Claims
Late Wednesday, President Donald Trump said that he will set a 100% tariff on semiconductors, unless companies shift manufacturing to the U.S. That would seem to spare Taiwan Semiconductor, which is expanding its U.S. footprint, and key customers such as Nvidia and AMD.
"We're going to be putting a very large tariff on chips and semiconductors," Trump said. "But the good news for companies like Apple is if you're building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge."
Taiwan Semi jumped more than 5% in premarket action. Apple climbed 3%, AMD gained 2% and Nvidia was up more than 1%.
Intel, however, didn't join the party. Shares plunged more than 5% after Trump called on Chief Executive Lip-Bu Tan to resign amid questions over his ties to Chinese companies.
Elsewhere, due out at 8:30 a.m. ET, the Labor Department's weekly first-time jobless claims are expected to rise to 220,000 vs. 218,000 in the previous week.
The overall trend of low jobless claims points to continued strength in the labor market, one of the reasons the Federal Reserve cites for maintaining interest rates.
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.
