Stocks were mixed to start the day, but all three major indexes finished another session in positive territory Tuesday with the Nasdaq leading the charge. Meanwhile, a surprising report showed more jobs available in the marketplace than expected. And Palantir hit a new high on the stock market today.
The Dow Jones Industrial Average scored a gain of 0.5%, or 214 points. Nvidia led blue chips with a rise of nearly 3%. The 30-stock index is testing its 200-day moving average.
The S&P 500 rose 0.6%, while the Nasdaq held its dominance over the other major indexes and climbed 0.8%. The small-cap Russell 2000 index outperformed the major indexes with a 1.4% gain. It remains well below its 200-day line.
Volume was higher on both the Nasdaq exchange and New York Stock Exchange vs. Monday. Advancers beat decliners by roughly 2-to-1 on both exchanges.
Oil prices climbed to around $63.35 a barrel. Bitcoin sat just above $106,000, and the benchmark 10-year Treasury bond ticked lower to 4.45%.
Jobs Openings Rise In These Areas
The Labor Department's April Job Openings and Labor Turnover Survey, or JOLTS, came in at 7.391 million vs. the 7.1 million projected. The reading also topped March's revised 7.2 million number.
According to Comerica Bank Chief Economist Bill Adams, job openings were not evenly dispersed among industries.
Manufacturing openings fell to their lowest point since June 2020, while available leisure and hospitality jobs sank to a level not seen since January 2021. In addition, state and local government positions also saw four-year lows.
Adams said, however, that business and financial services, private education, health care and retail job openings increased in April.
Stock Market Today: Palantir Dominates
IBD 50 stalwart Palantir Technologies hit another all-time closing high with a gain of nearly 1%. Shares are extended from a 125.25 buy point out of a late-stage cup-with-handle base.
The stock holds best-possible 99 IBD Composite and Relative Strength Ratings. The stock earned the honor of being the top stock in the S&P 500 in May. That title is supported by the stock's year-to-date gain of 76%.
Signet Jewelers spring boarded nearly 13% higher after the jewelry retailer reported higher-than-expected fiscal first-quarter profit and sales. It also gave a fiscal second-quarter sales outlook that was above analyst estimates and raised its fiscal 2026 outlook.
After wild action, Signet stock found support at its 200-day line. Despite the significant move higher, shares are still down around 7% on the year.
3:24 p.m. ET
Water Stock Surges
Water services stock Core & Main surged 10% and is now extended from the buy area of a cup with handle with a 54.40 entry.
TTM Technologies shot up around 7.8% in heavy trading and topped the buy zone of a cup-with-handle base reaching 31.71. The circuit board stock reached a record high on the stock market today.
Stride tumbled 9.7% in heavy volume and tested its 50-day line. The drop wiped out Monday's 4.6% gain. The private education stock fell back below a 145 consolidation buy point after trading around the buy zone. Stride stock was the biggest loser on the IBD 50 Tuesday.
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1:49 p.m. ET
Stock Market Today: These Diverse Stocks Break Out
Emcor Group enjoyed a gain of more than 3% as it broke out of a cup-with-handle base with a 478.75 buy point. The industrial services stock is solidly in a buy range up to 502.69.
Palo Alto Networks also broke out of a cup-with-handle base after topping a 195.42 entry point and is in a buy area up to 205.19. On Tuesday, President Capital raised its price target on the network security stock to 222 from 205, though it held its neutral rating.
Jabil, bolted nearly 3% higher and reached the 170.90 buy point of a cup with handle. The manufacturing services stock sits in a buy zone reaching to 179.45.
Robinhood Markets spiked 6.5% and revisited a level not seen since August 2021. The online brokerage stock has climbed 94% so far this year, earning it a Relative Strength Rating of 98 from Investor's Business Daily.
12:18 p.m. ET
CoreWeave Hits New High
CoreWeave kept its recent rally going, bolting 18% higher. The IBD 50 leader reached a fresh high on the stock market today and has gained around 250% since its debut in late March.
Applied Digital saw a day of seesaw trading and was up more than 51% in recent action. The move adds to Monday's 48.5% surge in huge volume. The giant move came on news it entered into two 15-year leases with CoreWeave.
Quanta Services hoisted more than 3% and broke out of a cup-with-handle base with a 348.90 buy point. Shares are in the buy zone up to 366.35. Its relative strength line hit a 52-week high on the stock market today.
Broadcom advanced more than 2% and hit the 251.88 buy point of a consolidation pattern. The stock is in a buy area up to 264.47 and reached a record high.
11:28 a.m. ET
Stock Market Today: Nuclear Stocks Move On Meta Deal News
Constellation Energy pared gains to less than 1% on news that the nuclear power leader announced a 20-year deal to provide energy for Facebook-parent Meta to fuel its "AI ambitions." Constellation stock is nearing a 352 buy point from a deep cuplike base.
IBD SwingTrader name Meta inched 0.5% lower. The Magnificent Seven name bolted 3.6% higher Monday and broke out of a cup-with-handle base with a 662.67 buy point. Shares are in the buy range up to 695.80.
Uranium name Cameco saw a boost of more than 2% on the stock market today. Shares are extended from a 53.48 cup-with-handle buy point, but investors could use 62.27 as an alternate entry.
Also, Talen Energy climbed more than 2% and flirted with a 258.03 entry out of a consolidation. It also formed a three-weeks-tight pattern with a 247.35 entry point with a buy zone stretching to 259.72. Its relative strength line hit a 52-week high as shown by the blue dot on its MarketSurge chart.
Other nuclear names climbed in sympathy with Constellation stock. Vistra rallied more than 5%.
But Oklo reversed and showed a loss of more than 3% in recent trades. Nano Nuclear Energy also gave back early morning gains and ceded 2% in heavy trading. The stock has formed a handle with a 37.23 entry.
10:46 a.m. ET
Stock Movers: Credo Rockets Higher
Credo Technology Group soared nearly 24% in heavy volume after the high-speed connectivity provider easily beat fiscal fourth-quarter earnings and sales estimates. It also gave a fiscal first-quarter sales outlook that was above views. Its profit soared 400% while revenue surged 180%.
The IBD MarketSurge Growth 250 stock has gained more than 260% since its low on April 7. Credo's connectivity services are used by data centers, for cloud computing and in hyperscale networks.
Ollie's Bargain Outlet fell more than 1% despite the discount retail's better-than-expected fiscal first-quarter earnings and sales. It affirmed its fiscal 2025 profit outlook of $3.65 to $3.75 per share, with the midpoint below FactSet forecasts of $3.73 per share. It also raised its net revenue forecast to a range from $2.579 billion to $2.599 billion.
Ollie's stock sank below its 50-day moving average on the stock market today. Shares broke out of a flat base in mid-May but the breakout failed and the stock triggered the 7% sell rule below a 118.58 buy point.
Dollar General jumped nearly 14% in heavy trading after the low-cost retailer topped fiscal first-quarter profit and revenue forecasts. Shares are extended from the 5% buy zone from the 97.85 flat-base buy point.
Follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
