Stock Market Today: Indexes Close Near Session Highs As Nasdaq, S&P 500 Rebound

The stock market today saw a rebound in major indexes, with the Nasdaq Composite and S&P 500 closing near their session highs. The Dow Jones Industrial Average also made gains, although it remained below its 50-day moving average. The rally was driven by strength in the technology sector, particularly among the Magnificent Seven stocks.

The Nasdaq Composite, which is heavily weighted with technology stocks, rose 0.7% on Thursday, breaking a five-day losing streak. The index is now above its 21-day exponential moving average but remains below its 50-day moving average. The S&P 500 also climbed 0.5% and is trading below its 50-day moving average. The Dow Jones Industrial Average added 0.3% and is below its 50-day moving average.

The Russell 2000, which tracks small-cap stocks, showed resiliency and lifted 0.4% higher, remaining in a two-week price range. Volume fell on both the New York Stock Exchange and the Nasdaq compared to the same time on Wednesday. Decliners outnumbered advancers on both exchanges by about 2-to-1.

Bitcoin pulled back around 0.4% and was just over the $97,000 level, while the 10-year Treasury yield held at 4.58%. U.S. crude oil inched up to $73.61 a barrel.

The December Institute for Supply Management Manufacturing index rose to 49.3 vs. the 48.5 projected and topped November's 48.4. This suggests that the manufacturing sector is stabilizing after a recent slowdown.

Stock Market Today: Magnificent Seven Winners, Losers

Tesla (TSLA) recouped 0.8% of Thursday's 6.1% drop that capped a five-day sell-off. The electric vehicle maker is below its 21-day line but above its 50-day line. Nvidia (NVDA) bolted 3.3% higher and reclaimed its 50-day line. Shares also topped a 141.90 early entry from the Dec. 24 high. Nvidia is also nearing the 46.54 buy point of a double-bottom base. Nvidia was added to IBD SwingTrader and was the biggest gainer on the Dow Jones index.

Apple (AAPL) was modestly lower and is on pace for its fifth straight drop. The dip followed Thursday's 2.6% loss on news it cut iPhone prices in China. Apple stock is in the buy zone of a flat base with a 237.49 buy point, but the stock fell below its 21-day line this week.

Carvana (CVNA) fell another 3.7% in heavy volume on news Hindenburg Research issued a negative report questioning its accounting and loan activity. The online auto dealer fell further below its 50-day line and had already triggered a sell signal.

Rivian (RIVN) popped more than 17% in heavy trading, after the electric vehicle company's fourth-quarter vehicle deliveries came in well above expectations. The stock has a mediocre 69 IBD Relative Strength Rating, according to MarketSurge, but it could soon improve.

Block (SQ) rose more than 5% after Raymond James upgraded the stock to outperform from market perform and set a price target of 115. Shares retook the 21-day line. The financial services software maker found support at the 10-week moving average, where a new entry around 87 emerged.

Chewy (CHWY) got a 5.4% lift following an upgrade from Wolfe to outperform from peer perform and a 42 price target. The online pet products retailer topped the buy zone (up to 34.84) from a 33.18 buy point.

Las Vegas Sands (LVS) climbed 1% following Thursday's 2.8% drop after Jefferies upgraded the stock to buy from hold and raised its price target to 69 from 60. The resort operator is finding resistance at its 50-day line and a breakout at 54.39 is struggling.



In conclusion, the stock market today saw a rebound in major indexes, driven by strength in the technology sector, particularly among the Magnificent Seven stocks. The Nasdaq Composite and S&P 500 closed near their session highs, while the Dow Jones Industrial Average made gains but remained below its 50-day moving average. The Russell 2000 showed resiliency, and the Institute for Supply Management Manufacturing index suggested that the manufacturing sector is stabilizing. However, investors should remain cautious and monitor the performance of key stocks and sectors as the market continues to navigate geopolitical events and trade policies.