Investors got a second wind Thursday afternoon as the stock market indexes turned positive and strengthened in the last hour to close near the highs of the day.
The Dow Jones Industrial Average bounced 0.3% and the S&P 500 added 0.5%. The Nasdaq reclaimed 0.7%. The small-cap Russell 2000 rallied 0.7% also.
Volume fell on the NYSE and rose on the Nasdaq according to preliminary numbers.
The Dow remains below its 50-day moving average, while the S&P 500 is now finding support at its 50-day line. The Nasdaq remains above its 200-day moving average and now tests the 21-day line. The tech-heavy Nasdaq 100-tracking Invesco QQQ Trust ETF bounced 0.9%.
Crude oil rallied 2.2% to $75.58 per barrel. The Energy Select Sector SPDR ETF added 1.5%, finding support at the 200-day line.
Bitcoin futures gained 0.8% to $23,990. The Innovator IBD 50 ETF pulled ahead 1.2%. The 10-year U.S. Treasury yield shed 4 basis points to 3.89%.
Stock Market Movers: Ansys Software Stock Pops Over 10%
Ansys gapped up 10.5% in heavy volume after reporting a beat on Q4 earnings and sales, and giving positive full-year EPS and revenue guidance.
U.S. Stock Market Today Overview |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 33160.24 | +115.15 | +0.35 |
| S&P 500 | (0S&P5) | 4014.21 | +23.16 | +0.58 |
| Nasdaq | (0NDQC ) | 11590.40 | +83.33 | +0.72 |
| Russell 2000 | 189.32 | +1.38 | +0.73 | |
| IBD 50 | 23.15 | +0.27 | +1.18 | |
Last Update: 4:38 PM ET 2/23/2023 |
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Shares are above the 5% buy zone of a flat base with 263.29 buy point. The stock topped an alternative entry at 284.89. The engineering simulation software stock was the S&P 500's second biggest gainer today.
Nvidia gapped up 14% in heavy volume after reporting a beat on top and bottom Q4 numbers late Wednesday. The chip stock is the S&P 500's biggest gainer today. Nvidia also broke out past a 230.59 buy point.
Comfort Systems USA gapped up 9.8% and broke out of a flat base with a 128.78 buy point after reporting better-than-expected Q4 earnings and sales late Wednesday. The mechanical, electrical and plumbing contractor's relative strength line hit a new high, as indicated by the blue dot on MarketSmith charts. Shares hit a 52-week high today.
Market Losers: Pizza, Coffee Stocks Below 50-Day Lines
It's been a bad day for restaurants.
Domino's Pizza gapped down 11.7% in heavy volume after reporting a miss on Q4 sales and shrinking gross margins. "We experienced significant pressure on our U.S. delivery business in 2022 and focused our efforts on creating solutions," said CEO Russell Weiner.
Papa Johns also gapped down, losing 6.1% in heavy volume, after reporting declining Q4 EPS and sales early Thursday. The company said higher food and labor costs were responsible for shrinking margins.
Shares dropped below the 50-day line, triggering a sell signal. The stock also is close to a 7%-to-8% loss sell signal.
Yum Brands, whose companies include Pizza Hut, got pulled down with its peers after shedding 0.5% and dipping below its 50-day moving average. Shares are falling after clearing the 132.34 buy point of a cup-with-handle base on Feb. 9.
The company had a positive Q4 earnings report in early February, including 6% worldwide same-store sales growth, but shares started sliding this week. Besides Pizza Hut, Yum owns KFC and Taco Bell.
Dutch Bros plunged 10.4% in heavy volume after reporting a miss on Q4 EPS Wednesday after market close. The drop sent the drive-thru coffee shop chain's stock below the 50-day line, triggering a sell signal.
Moderna sank 6.7% following a big miss on Q4 EPS, but a beat on sales. The drop sent the producer of drugs and vaccines below the 200-day line. MRNA is the second biggest S&P 500 stock market loser today.
Online auction and marketplace platform eBay dropped 5.2%, despite a beat on Q4 top and bottom lines. The company posted lower EPS and sales compared to the prior year's quarter.
Follow Kimberley Koenig for more stock news on Twitter @IBD_KKoenig.
