Stock Market Today: Dow Jones Falls After Surprise Jobless Claims; Tesla Surges 17% On Earnings

The Dow Jones Industrial Average fell again while the other major stock indexes rose Thursday, as investors digested an unexpected drop in jobless claims. Tesla (TSLA) was a big earnings winner on the stock market today.

After the opening bell, the Dow Jones Industrial Average fell 0.3%, while the S&P 500 rose 0.2%. The tech-heavy Nasdaq composite moved up 0.5% in early trading.

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Early Thursday, the 10-year Treasury yield ticked lower to 4.19%. Oil prices climbed, with West Texas Intermediate futures trading around $71.20 per barrel.

Among exchange traded funds, the Invesco QQQ Trust (QQQ) was up 0.5%, while the SPDR S&P 500 ETF (SPY) gained 0.2% after the open.

The Labor Department's first-time jobless claims unexpectedly dropped to 227,000 vs. 241,000 in the previous week. They were expected to rise to 247,000, according to Econoday, due to the expected jump in filings following the recent hurricanes.

Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today

Tesla Stock Soars

Electric-vehicle giant Tesla surged more than 17% Thursday morning after the company's third-quarter earnings report. Shares are set to retake their 50-day line within a cup with handle that has a 264.86 buy point.

Late Wednesday, Tesla announced a surprise third-quarter earnings gain late Wednesday, with quarterly profit growing 9%, capping off a big month of announcements for the electric-vehicle giant. Revenue came in light.

On the Tesla earnings call, Chief Executive Elon Musk was calmly bullish. Musk was upbeat on full self-driving, vehicle deliveries, storage and more.

Stock Market Today

Other earnings movers Thursday morning include American Airlines (AAL), IBM (IBM), ServiceNow (NOW) and United Parcel Service (UPS).

Shares of American Airlines rose 2.6% in morning trading. Meanwhile, IBM tumbled 6%, ServiceNow gained 6.5%, and UPS stock jumped nearly 7%.

Elsewhere, Boeing (BA) sold off 1.9% after striking Boeing workers rejected a labor deal that would have hiked pay by 35% over four years, the machinists union announced Wednesday night. That means the crippling work stoppage will go on for the Dow Jones aerospace giant.

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Best Stocks To Watch On The Stock Market Today

On Wednesday, the Dow Jones Industrial Average declined 1%, while the S&P 500 lost 0.9%. And the tech-heavy Nasdaq composite sold off 1.6%.

During Wednesday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market action.

Among the best companies to watch on the stock market today are MercadoLibre (MELI), Texas Roadhouse (TXRH), Uber Technologies (UBER) and United Therapeutics (UTHR).

Notable Dow Jones components are Amazon.com (AMZN), Apple (AAPL), JPMorgan Chase (JPM) and Microsoft (MSFT).

Apple and MercadoLibre featured in this Stocks Near A Buy Zone column.

There was one new stock on IBD MarketSurge's "Breaking Out Today" list Wednesday, namely Amphenol (APH), which briefly topped a 70.84 buy point. Check for more names on the site's "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.

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Dow Jones: JPMorgan Nears Buy Point

Dow Jones financial leader JPMorgan closed below a flat base's 225.48 buy point, according to MarketSurge pattern recognition. Shares were up a fraction on the stock market today.

Outside the Dow Jones index, restaurant leader Texas Roadhouse decisively reclaimed a 177.72 flat-base entry during last week's gains. Shares climbed 0.1% Thursday.

Retail giant MercadoLibre is working on a flat base with a 2,161.73 buy point. The stock is also finding support along the 50-day moving average. Shares edged lower Thursday.

Uber Technologies has fallen sharply below an 82.14 buy point in a consolidation amid recent losses. Following Wednesday's drop, Uber stock skidded 2.5% in Thursday's trading.

Finally, United Therapeutics tumbled below a 366.08 buy point during Wednesday's near-5% drop. Shares ticked up 0.5% Thursday.

This 'Big Daddy' Smashes All Mag 7 Stocks Except Nvidia. Now Watch For This.

Stock Market Today: Companies To Watch

These are four stocks in or near buy zones in today's stock market.

Source: IBD Data as of Oct. 14

Join IBD Experts As They Analyze Leading Stocks On IBD Live

Magnificent Seven Stocks: Alphabet, Meta, Nvidia

Among Magnificent Seven stocks, Alphabet (GOOGL) fell 0.9%, while Meta Platforms (META) rose 0.4% in morning trading on the stock market today.

Google-parent Alphabet is currently holding above support around the 50-day moving average. The stock remains well below prior highs. Meta stock hit a new high in recent weeks, rising further above a 544.23 alternate entry, but is now pulling back to its own 50-day line.

Nvidia (NVDA) touched new highs Tuesday before retreating that day and into Wednesday. Shares bounced 0.2% Thursday morning, squarely above a 131.26 alternate entry. The stock also was above a 140.76 conventional buy point.

Dow Jones Leaders: Amazon, Apple, Microsoft

Among Dow Jones components in the Magnificent Seven, Amazon shares are holding above their 50-day line, near a 195.37 buy point in a cup with handle. The stock rose 0.3% Thursday.

Apple stock broke out last week above a 233.09 cup-with-handle entry but is back below that buy trigger. Shares moved down 0.8% Thursday in early trading.

Microsoft shares bullishly regained their 50-day line during Tuesday's rally and are near a handle buy point at 441.85. And on Thursday morning, the stock edged lower.

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.

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