The Dow Jones Industrial Average and other major stock indexes rallied Thursday, as Wall Street cheered President Donald Trump's "major trade deal" with the United Kingdom. Meanwhile, Nvidia partner Arm Holdings plunged on earnings.
After the opening bell, the Dow Jones Industrial Average rose 0.5%, or around 200 points. The S&P 500 gained 0.7% as the tech-heavy Nasdaq composite moved up 1%.
The 10-year Treasury yield ticked higher to 4.3% early Thursday. Meanwhile, oil prices rose, as West Texas Intermediate futures traded near $58.90 per barrel.
Among exchange traded funds, the Invesco QQQ Trust gained 1.1%, while the SPDR S&P 500 ETF moved up 0.8% after the open.
Arm stock plunged 5% Thursday after the Nvidia partner beat estimates for its fiscal fourth quarter but came up short with its guidance. Nvidia stock was up 0.8% in morning moves. Shares of the artificial intelligence giant have moved decisively above their 50-day moving average over the last few trading sessions.
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Stock Market Today: Trump's 'Major Trade Deal'
President Trump Thursday morning confirmed a new "full and comprehensive" trade deal with the U.K on Truth Social.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!"
Late Wednesday, President Trump said on Truth Social that he would announce a trade deal Thursday morning.
"Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!"
In other economic news, the Labor Department's weekly unemployment claims fell more than expected, down to 228,000. They were expected to drop to 232,000 vs. 241,000 in the previous week.
Earnings Movers: AppLovin, Shopify
In stocks, Thursday's earnings movers include AppLovin, Carvana, Dutch Bros, Fortinet and LandBridge. Other movers include MercadoLibre, Life Time, Planet Fitness and Shopify.
AppLovin soared more than 13% in morning trading, while Carvana stock rallied 6%. Dutch Bros edged higher, but Fortinet stock plunged over 9%. LandBridge shares were down 1% as MercadoLibre leapt more than 8%.
Life Time shares surged more than 5%, and Planet Fitness moved down 1.5%. Finally, Shopify tumbled nearly 3% in early action.
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Dow Jones Bounces
On Wednesday, blue chips on the Dow Jones Industrial Average moved up 0.7%, or nearly 285 points, while the S&P 500 gained 0.4% and the Nasdaq rose 0.3%.
Due to current market volatility, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are Booking, Commvault and Sea Limited.
Along with Apple and Nvidia, Dow Jones components also making notable moves this week were Amazon.com, Microsoft and Boeing.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Investors also can find potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones Stocks: Boeing Hits Buy Point
Shares of Dow Jones component Boeing climbed 0.7% Thursday, further above a double-bottom entry at 184.40, according to MarketSurge chart analysis.
Outside the Dow, IBD SwingTrader stock Booking is rapidly approaching a 5,282 buy point in a double bottom. Booking stock moved up 1% in morning action.
Recent IBD Stock Of The Day Commvault closed Wednesday just above a 174.58 double-bottom entry. Commvault shares tacked on 1.5% early Thursday.
Finally, shares of Sea Limited are inching toward a 147.73 consolidation pattern entry, after having already rallied 115% over the past 12 months. Sea stock was unchanged Thursday morning.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Thursday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Boeing | 184.40 | Double bottom | |
| Spotify | 621.20 | Double bottom | |
| Penumbra | 288.57 | Double bottom | |
| MercadoLibre | 2,202.00 | Double bottom |
Source: IBD Data as of April 30
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks are rebounding from lows as Wall Street reacts to the fallout from President Trump's tariffs. One of them, Dow Jones component Amazon, is attempting to regain its 50-day line for the first time since Feb. 14. Amazon stock rose 1.3% Thursday.
IPhone maker Apple extended a losing streak to four sessions Wednesday following last week's earnings report. But Apple shares rebounded 0.6% early Thursday.
Microsoft stock shot up last week, retaking its 200-day line for the first time since Jan. 29. The software giant tacked on 1.5% Thursday morning.
Finally, Tesla rebounded 2.4% in early action Thursday, still continuing to see stout resistance at the long-term 200-day moving average. Led by Chief Executive Elon Musk, the electric-vehicle maker remains around 42% off its record high of 488.54, reached on Dec. 18.
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.
