The Dow Jones Industrial Average rallied 250 points Thursday, as Tesla stock surged higher. Dow Jones leader Apple is approaching a new buy point, while Microsoft is in buy range past a new entry. Tech giants Nvidia, Roku and Snap were on the move in morning trade.
XAmong the Dow Jones leaders, Apple (AAPL) rose 0.5% Thursday, while Microsoft (MSFT) moved up 0.6% in today's stock market. Microsoft is just above a new entry.
Tesla (TSLA) raced over 5% higher Thursday following Wednesday's bullish action. Nvidia (NVDA) and Roku (ROKU) were stocks on the move Thursday morning.
Among the top stocks to buy and watch, KKR (KKR), PayPal (PYPL) and Snap (SNAP) are trading in buy zones.
Microsoft is an IBD Leaderboard stock. PayPal was featured in this week's Stocks Near A Buy Zone column. KKR is an IBD SwingTrader stock. Snap was Wednesday's IBD Stock Of The Day.
Dow Jones Today
The Dow Jones Industrial Average rallied 0.7% Thursday, while the S&P 500 moved up 0.55%. The tech-heavy Nasdaq composite climbed 0.9% in morning trade.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34153.02 | +278.78 | +0.82 |
| S&P 500 | (0S&P5) | 4270.30 | +28.46 | +0.67 |
| Nasdaq | (0NDQC ) | 14405.70 | +133.97 | +0.94 |
| Russell 2000 | (IWM) | 230.13 | +1.47 | +0.64 |
| IBD 50 | (FFTY) | 45.57 | +0.55 | +1.22 |
Last Update: 10:40 AM ET 6/24/2021 |
||||
Among exchange traded funds, the Innovator IBD 50 (FFTY) traded up 0.8% Thursday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) moved up 0.9%. Meanwhile, the SPDR S&P 500 ETF (SPY) gained 0.6%.
Stock Market Rally
The S&P 500 hit record highs Thursday morning after retaking its key 50-day line Monday. The Dow Jones Industrial Average is testing resistance at its own 50-day line. Meanwhile, the tech-heavy Nasdaq hit more all-time highs Thursday morning.
Wednesday's Big Picture column commented, "Wednesday's close showed the stock market is still tentative, even though the Nasdaq made record highs Tuesday and again Wednesday. But while there wasn't much follow-on buying Wednesday, indexes did not give up much ground at all. Indexes are testing months long resistance levels, and it could be a tough fight to shove sellers out of the way."
For more stock market commentary, check out IBD's The Big Picture.
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Dow Jones Stocks: Microsoft
Dow Jones software giant Microsoft is breaking out above a new cup base's 263.29 buy point, according to IBD MarketSmith chart analysis. Shares rose 0.6% Thursday and are in buy range. The 5% buy zone goes up to 276.45. The stock's relative strength line is nearing recent highs, a positive sign of stock market outperformance in recent weeks.
On Tuesday, Microsoft joined Apple in the $2 trillion-valuation club.
Stocks To Buy And Watch: KKR, PayPal, Snap
IBD SwingTrader stock KKR is trying to break out past a cup base's 59.25 buy point, according to IBD MarketSmith chart analysis. Shares inched lower Thursday and are in the buy range that tops out at 62.21.
IBD Leaderboard stock PayPal is in the 5% buy range past a 277.96 buy point. The stock was raised to a half position on Leaderboard on Friday due to recent strength. The 5% buy zone goes up to 291.86. Shares rose nearly 1% Wednesday.
Wednesday's IBD Stock Of The Day, Snap, again advanced past a 63.94 buy point in a cup with handle Wednesday and is in buy range. Shares rallied 1.5% Thursday.
According to IBD Stock Checkup, SNAP stock shows a strong 97 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating easily identifies stocks with a blend of strong fundamental and technical characteristics.
Stocks On The Move: Nvidia, Roku
Graphics-chip maker Nvidia rallied 1% early Thursday and is closing in on the 20%-25% profit-taking level from a 648.67 buy point in a cup base.
Roku erased early gains Thursday morning. Shares are tracing a cup base with a 486.82 buy point. Be on the lookout for a potential handle to offer a more risk-optimal entry.
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Tesla Stock
Tesla stock advanced over 5% Thursday, on pace to add to Wednesday's 5.3% surge. The EV giant bullishly reclaimed its key 50-day line Wednesday and is moving up the right side of a new base.
On Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.
Dow Jones Leaders: Apple
Among the top Dow Jones stocks, Apple gained 0.5% Thursday, on pace to rebound from Wednesday's 0.2% loss. Apple stock continues to trace a new cup base with a 137.17 buy point.
Shares are about 2% away from the entry.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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