Dow Jones Falls As Jobless Claims Rise, Retail Sales Jump; Apple, Tesla Slide

The Dow Jones Industrial Average lost 200 points Thursday, as weekly jobless claims rose and August retail sales unexpectedly jumped. Apple stock remains near a key level, while Tesla stock skidded in today’s stock market.


Among the Dow Jones leaders, tech titan Apple (AAPL) dropped 0.7%, while Microsoft (MSFT) moved down 0.6% Thursday. Nike (NKE) is tracing a new base, but is below a key technical level.

Tesla (TSLA) threatened to snap a three-day win streak Thursday, sliding 1% in morning trade. The EV leader is just above a new entry. PayPal (PYPL) traded up 0.1% Thursday, as it continues to offer a new buy point.

Among the top stocks to buy and watch, Copart (CPRT), Palantir Technologies (PLTR), Yeti (YETI) and ZoomInfo (ZI) are in or near new buy zones.

Microsoft, PayPal and Tesla are IBD Leaderboard stocks. Copart is an IBD SwingTrader stock and was Wednesday’s IBD Stock Of The Day. Yeti is an IBD IPO Leader. Nike was featured in this week’s Stocks Near A Buy Zone column. ZoomInfo was Tuesday’s IBD 50 Stocks To Watch pick.

Dow Jones Today: Retail Sales, Jobless Data

The Dow Jones Industrial Average moved down 0.6% Thursday morning. The S&P 500 lost 0.7%, while the tech-heavy Nasdaq traded down 0.6% in early trade.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 34633.09 -181.30 -0.52
S&P 500 (0S&P5) 4453.54 -27.16 -0.61
Nasdaq (0NDQC ) 15083.99 -77.54 -0.51
Russell 2000 (IWM) 220.95 -1.08 -0.49
IBD 50 (FFTY) 50.16 +0.44 +0.88
Last Update: 10:50 AM ET 9/16/2021

Ahead of the market open, the Labor Department reported initial unemployment claims rose to 332,000 last week from a pandemic low of 312,000 a week earlier, worse than Econoday estimates for 315,000 claims. Meanwhile, U.S. retail sales rose 0.7% in August, countering estimates for a 0.8% decline per Econoday estimates.

Among exchange traded funds, the Innovator IBD 50 (FFTY) added 0.5% Thursday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 0.8%. Meanwhile, the SPDR S&P 500 ETF (SPY) was down 0.7%.

Stock Market Rally Continues

The Nasdaq threatened to give back a part of Wednesday’s gain, which snapped a five-day losing streak. The S&P 500 continues to look for support at its key 50-day line, while the Dow Jones Industrial Average is falling further below its own 50-day line.

Wednesday’s The Big Picture column commented, “For the moment at least, the stock market is following the same script it has for most of the year. That is, the S&P 500 takes a breather and falls to its 50-day moving average. The index then bounces and continues a trend of higher highs and higher lows.”

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Dow Jones Stocks To Buy And Watch: Nike

Dow Jones leader Nike is tracing a flat base with a 174.48 buy point, according to IBD MarketSmith chart analysis. But shares are below their key 50-day moving average line. Retaking support at that critical level would be bullish for the stock’s immediate prospects. Shares were up 0.3% Thursday.

Through Sept. 10, Nike was the No. 8 performer on the Dow Jones Industrial Average, advancing more than 15%. Goldman Sachs (GS) was the top Dow Jones stock with a year-to-date gain of 52% through Sept. 15.

Stocks To Buy And Watch: Copart, Palantir, Yeti, ZoomInfo

IBD SwingTrader stock Copart is breaking out past a 149.17 buy point in a flat base, according to IBD MarketSmith chart analysis. Shares rallied 1% in morning trade. Copart featured as Wednesday’s IBD Stock Of The Day.

Palantir Technologies is in the 5% buy zone above its cup-with-handle’s 26.04 buy point amid Thursday morning’s 2.5% rise. The 5% buy area tops out at 27.34.

IPO Leader Yeti is approaching a flat base’s 105.72 buy point, but lost 0.1% Thursday morning. Bullishly, the stock’s relative strength line is near new highs, indicating strong stock market outperformance. The RS line should hit a new high on the breakout day, confirming the stock as a market leader.

Yeti was featured in last week’s IPO Leaders column.

Tuesday’s IBD 50 Stocks To Watch, ZoomInfo, is trying to break out past a 67.73 buy point in a flat base following Tuesday’s breakout attempt, but is below the buy point. Shares lost 1% in morning trade.

According to IBD Stock CheckupZoomInfo stock boasts a 98 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics.

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PayPal Stock

PayPal stock rose 0.1% Thursday, looking to snap a two-day slide. The top stock is just below its 50-day moving average line.

PayPal is trading about 9% away from a flat base’s 310.26 buy point. Meanwhile, an aggressive entry looms at 296.80, or a dime above Wednesday’s high.

Tesla Stock

IBD Leaderboard stock Tesla stock skidded 1% early Thursday, on pace to snap a three-day win streak. Tesla is in buy range above an alternate entry at 730. In recent weeks, shares regained their 700.10 aggressive buy point deep inside a correction. Meanwhile, a deep, large base continues to take shape.

On Jan. 25, Tesla stock hit a record high 900.40, after climbing as much as 93% from a 466 buy point in a cup-with-handle.

Dow Jones Leaders: Apple, Microsoft

Among the top Dow Jones stocks, Apple moved down 0.7% Thursday, as it battles for support at its key 50-day line. Apple stock is just above a 148 trendline buy point.

Software giant Microsoft declined 0.6% Thursday, giving back a part of Wednesday’s 1.7% rise. Shares are just below a three-weeks-tight add-on entry at 305.94.

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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