The Dow Jones Industrial Average rose from session lows to finish higher on Thursday while Nvidia fell amid a share sale plan for the artificial intelligence giant. Shares of GameStop were halted twice amid volatile trading. And three stocks weighed on the Innovator IBD 50 exchange traded fund on the stock market today.
The Dow ended the day up 0.2% while the S&P 500 edged lower and the Nasdaq dropped 0.1%. Small caps on the Russell 2000 fell 0.7%.
Volume was higher on the New York Stock Exchange and lower on the Nasdaq on the stock market today compared with the same time on Wednesday. Decliners outnumbered advancers on both exchanges.
The yield on the benchmark 10-year Treasury note edged down to 4.29%.
Meanwhile, the Innovator IBD 50 fell 1.3%. Wingstop, Celestica and Comfort Systems weighed the ETF down the most.
GameStop Stock Halted Twice
Trading shares of GameStop was halted twice on the New York Stock Exchange after news that meme investor Roaring Kitty will stream a live event on Friday. The news brought renewed volatility to the stock.
GameStop stock jumped more than 47% to end trading Thursday.
Updated 1:52 p.m. ET
Stock Market Today: Two Highly Rated Stocks Flash Sell Signals
Janux Therapeutics fell below the 50-day moving average in heavy volume. The stock was holding a best-possible Relative Strength Rating of 99. The company makes cancer treatments.
LivaNova also fell below that key level on the stock market today. The company had broken out of a consolidation pattern in early May but tumbled well out of the buy zone on Thursday. LivaNova's RS Rating was 85, and it held a Composite Rating of 94.
Updated 12:35 p.m. ET
Halozyme Tops Growth 250 List
Shares of Halozyme Therapeutics surged into a profit zone after the company raised its full year outlook. Halozyme was the best performer Thursday on the IBD MarketSurge Growth 250.
Also in the Growth 250, Robinhood jumped after the company said it was acquiring crypto exchange Bitstamp for $200 million in cash. HOOD stock was the second best performer on the Growth 250 list.
Updated 11:14 a.m. ET
Stock Market Today: Nvidia Slips On Planned Stock Sale
Magnificent Seven stock Nvidia fell 1% on the stock market today as Chief Executive Jensen Huang plans to sell $735 million of the company's shares. Huang's move comes via a trading plan that will automatically execute the transactions when certain conditions are met. Nvidia's 10-for-1 stock split is due Friday.
Nvidia still has a market capitalization of more than $3 trillion, slightly ahead of Apple which stands right at $3 trillion. Microsoft's market cap of $3.15 trillion is Nvidia's next target.
Published 10:44 a.m. ET
Jobless Numbers Surprise
Initial unemployment claims for the week ended June 1 rose to 229,000 from 221,000 in the prior week and above estimates for 216,000, according to Econoday.
On Wednesday, a softer ADP employment report for May lifted the Nasdaq and the S&P 500 to fresh highs. Both indexes are above the 10-day moving average.
Dow Jones Stocks
Salesforce, Amazon and Nike were the biggest gainers on the Dow Jones index. Intel, Goldman Sachs and 3M lagged.
Stock Market Today: Lululemon Soars, Five Below Falls
Among earnings movers, Lululemon soared after first-quarter earnings beat views. Shares pared some gains and ended 5% higher. Several retail discount stocks reported, as Five Below plunged late Thursday after a soft outlook pressured the stock earlier. Dollar Tree also fell after its forecast for slower second-quarter sales.
Tesla rival Nio fell after mixed results. Shares of Tesla rose after board Chairwoman Robyn Denholm said that CEO Elon Musk's pay package from 2018 will continue to "motivate" him. Earlier, a Delaware court had ruled against the approval. Dunholm said approving the pay package was "not about the money."
In enterprise software, Smartsheet soared on its earnings report. Shares cleared the 50- and 200-day moving averages.
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