The Dow Jones Industrial Average and other major indexes ended the day with losses Thursday, but managed to close off the lows of the day. Meanwhile, Dow component Walmart was a big loser on the stock market today following the retail giant's earnings report.
The Dow fell 0.3%, or 152 points, pulled down by Walmart's 4.5% drop. The 30-stock blue-chip index remains well below the 45,000 level. The S&P 500 lost 0.4% and threatened to breach its 21-day exponential moving average. The benchmark index now has locked in five straight days of losses.
The Nasdaq composite ended the day 0.3% lower and held below its 21-day line. But small caps on the Russell 2000 index reversed higher, rising 0.2%.
Volume was significantly lower on both the Nasdaq exchange and New York Stock Exchange compared with Wednesday, in preliminary numbers. On the Nasdaq exchange, falling stocks edged out rising ones slightly. On the NYSE losers beat gainers by more than 4-to-3.
Stock Market Today: Palantir Keeps Investors On Edge Of Seats
Palantir ended its losing streak with a modest 0.1% increase on the stock market today. Shares wavered between positive and negative territory throughout the day. Palantir stock held above its 50-day line.
But Nvidia closed the session with a 0.2% loss, also after bouncing between gains and losses in the session. Nvidia stock has fallen for three straight sessions and remains below its 21-day line.
3:46 p.m. ET
Cracker Barrel Goes Barrel-less, Plunges
Cracker Barrel plummeted more than 8% in heavy volume after the Southern-style breakfast restaurant and country store changed its logo this week. The updated logo is without the iconic barrel and man sitting next to it.
The new emblem without the barrel is part of its attempt to modernize its look, but the change seems to have backfired as the stock tumbled. The barrel has been a part of the logo since 1977.
Shares fell further below their 50-day line and tested their 200-day line, seeking support.
Elsewhere, Broadstone Net Lease rose nearly 3% after Goldman Sachs made a bold move and upgraded the Real Estate Investment Trust to a buy from a sell rating. Goldman also raised its price target to 21 from 14. The REIT has a beefy 6.5% dividend yield.
Shares are on pace for three straight days of gains. The stock is in a long consolidation pattern with a 19.15 buy point.
Markets Await Powell Speech; These Leaders Extend Bounce
2:28 p.m. ET
Stock Market Today: This China EV Stock Rallies
IBD 50 name Xpeng popped nearly 13% in heavy volume. The electric-vehicle maker posted on Tuesday a smaller-than-expected second-quarter loss and sales that crushed estimates. It also said it expects to deliver 113,000 to 118,000 vehicles in the third quarter, more than double the number in the year-ago period.
Meanwhile, rival EV stock Tesla skidded 1.3% on the stock market today. Tesla stock is in a consolidation pattern with an official 367.71 buy point. Shares are testing and finding resistance at their 50-day line.
Tesla is up against an audit by the National Highway Traffic Safety Administration after it has had several delays in filing crash reports involving its automated-driving systems.
Nordson broke out of a cup-with-handle base with a 226.14 buy point Thursday morning, after the fluid-dispensing equipment manufacturer reported a positive fiscal third-quarter earnings report. Nordson beat profit and revenue forecasts and reaffirmed its fiscal 2025 earnings and sales guidance. It also authorized a $500 million share-buyback program.
Shares gave back larger gains to rise around 4.5% in recent action. The breakout faded and the stock is back below the entry point, according to IBD MarketSurge chart analysis. The stock has been a laggard as seen in its weak 29 IBD Relative Strength Rating.
12:30 p.m. ET
These Two China Names Shine
Miniso Group Holding jumped more than 6% following the company's better-than-expected profit and sales results for the second quarter. Its revenue climbed 23% and its adjusted earnings increased 12%.
The China-based holding company reported it had 7,905 value-priced stores globally, as of June 30. The stock is nearing its previous high of 22.29 reached on May 22.
IBD 50 name Futu Holdings gained another 1% on top of Wednesday's 6% gain. BofA Securities raised its price target on the China-based online brokerage stock to 200 from 172. Shares are nearing a level not seen since February 2021.
Outside of China stocks, Hewlett Packard Enterprise advanced 3% after Morgan Stanley upgraded the stock to overweight from equal weight and raised its price target to 28 from 22. Shares are in a newly formed flat base with a 21.72 buy point.
11:19 a.m. ET
Treasury Yields Rise, Bitcoin Falls
The 10-year Treasury yield inched up to 4.34%. Oil prices pulled back to around $63 a barrel. Bitcoin fell to just around $112,700 in recent action.
Among exchange traded funds, the Invesco QQQ Trust dipped 0.5%. Also, the SPDR S&P 500 ETF shed 0.4% Thursday.
Palantir Is Indecisive
Among recent big movers, IBD 50 name Palantir Technologies wavered but managed to inch 0.3% higher in recent action as it held support at its 10-week moving average. Watch for a drop below the 10-week line, or a plunge in heavy volume, which would be a sell signal.
After a six-day losing streak, it might be prudent to take some Palantir gains before they disappear. Palantir is on IBD Sector Leaders.
Elsewhere, Nvidia wavered between positive and negative territory to start the session and was flat in recent trades. This follows two straight days of losses. Shares are finding resistance at the 21-day line.
Dow Jones name Walmart fell more than 4% after the retail giant missed fiscal second-quarter earnings estimates but reported sales that came in higher than forecasts. It also raised its fiscal 2026 profit outlook to a range of $2.52 to $2.62 per share, with the high end meeting forecasts.
Shares fell from the buy zone and back below a 100.89 buy point in an early-stage flat base. It also undercut its 21-day line and tested its 50-day line, seeking support.
Further, Meta Platforms retreated nearly 1% on news it put a hiring freeze on its artificial intelligence division last week, according to The Wall Street Journal. The Magnificent Seven name had bolstered its roster with over 50 AI researchers and engineers, before the halt.
Shares are below their 21-day line but holding support at their 50-day line.
9:50 a.m. ET
Nasdaq 100 Winners, Losers: Alphabet, MercadoLibre, Gilead, Costco
Among the Nasdaq 100 stocks, Alphabet and MercadoLibre were early winners, up 0.6% and 0.4%, respectively. Alphabet stock is looking to snap a three-day losing streak.
On the downside, Gilead Sciences and Costco Wholesale declined 2.2% and 2%, respectively.
9:02 a.m. ET
Dow Jones Movers: 3M, Amazon, Boeing, Nvidia
Inside the Dow, blue chips 3M, Amazon.com and Nvidia all moved lower in early morning trading Thursday.
3M stock lost 1%, still holding above the 50-day moving average. Amazon stock declined 0.6%, threatening to extend a losing streak to three sessions. And Nvidia declined 0.7%, on pace to add to recent losses.
On the upside, Boeing shares rallied 2% after Bloomberg reported that the company is close to finalizing a deal with China to sell up to 500 aircraft.
8:45 a.m. ET
Stock Market Today: Weekly Jobless Claims Jump
The Labor Department's weekly jobless claims unexpectedly jumped to 235,000. Economists expected claims to hold steady at 224,000, according to Econoday estimates. And continuing jobless claims came in at 1.972 million, above forecasts for 1.96 million.
Meanwhile, the Philadelphia Fed Manufacturing Index turned negative in August, down to -0.3. It was expected to drop to 8.0 in August, from 15.9 in July.
8:15 a.m. ET
Walmart Slides On Profit Miss
Walmart sold off more than 3% Thursday morning after the company missed earnings views. But sales topped estimates and the Dow Jones giant raised its outlook despite rising tariff costs.
Walmart stock is threatening to fall below a 100.89 flat-base entry following a recent breakout move.
Stock Market Today: Key Economic Data
On the economic front, economists expect the Labor Department's jobless claims to remain flat at 224,000, according to Econoday estimates. Claims are due at 8:30 a.m. ET.
Concurrently, forecasts call for the Philadelphia Fed Manufacturing Index to drop to 8.0 in August, from 15.9 in July.
Later in the morning, the Purchasing Managers' Services and Manufacturing Indexes are due out at 9:45 a.m. ET. Economists see the services index easing to 53 in August, from July's 55.2 reading. And they expect manufacturing to rise to 49.7, up from 49.5.
Finally, the National Association of Realtors' existing home sales are expected to fall to an annual rate of 3.9 million in July, compared to 3.93 million in June. Existing home sales are set for 10 a.m. ET.
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.
And follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
