US open: Moderate gains on Wall Street

Stocks on Wall Street were trading moderately higher early on Thursday following the release of a mixed batch of economic data.

As of 1527 GMT, the Dow Jones Industrials was advancing by 0.44% to 33,190.40, the S&P 500 was ahead by 0.65% to 4,016.75 and the Nasdaq Composite could be seen adding 0.64% to 11,580.22.

Earlier, the Department of Labor had reported declines for both initial and secondary weekly unemployment claims which appeared to show a still very tight jobs market.

However, Ian Shepherdson, chief economist at Pantheon Macroeconomics, noted how weather had again been unseasonably warm during the week ending on 18 February.

Those figures came alongside other data showing a slightly slower pace of expansion in US gross domestic product of 2.7% for over the three months to December (Preliminary: 2.9%).

More important was an upwards revision by the Department of Commerce to its estimate for the core PCE price deflator contained in the GDP report for the fourth quarter, from 3.9% to 4.3%.

Benchmark 10-year Treasury note yields initially rose on the back of the PCE numbers to 3.976% but at last count were off by one basis point at 3.922%.

In parallel, the US dollar spot index was moving sideways, off by 0.08% at 104.51.

On the corporate side of things, all eyes were on Nvidia whose shares were flying higher by 15%.

Overnight the chip-maker had released better-than-expected revenue guidance for the current quarter on the back of demand for artificial intelligence processors.

Dow Jones - Risers

Microsoft Corp. (MSFT) $255.93 1.76%
Goldman Sachs Group Inc. (GS) $366.57 1.57%
Intel Corp. (INTC) $25.84 1.46%
Boeing Co. (BA) $208.40 1.28%
3M Co. (MMM) $110.13 1.09%
Merck & Co. Inc. (MRK) $110.27 1.02%
Caterpillar Inc. (CAT) $240.28 1.00%
Chevron Corp. (CVX) $161.91 0.97%
Dow Chemical Co. (DOW) $57.56 0.97%
Walgreens Boots Alliance, Inc. (WBA) $36.36 0.78%

Dow Jones - Fallers

McDonald's Corp. (MCD) $266.01 -0.98%
Walmart Inc. (WMT) $143.29 -0.66%
Johnson & Johnson (JNJ) $157.45 -0.21%
Walt Disney Co. (DIS) $101.47 -0.20%
Dowdupont Inc. (DWDP) $0.00 0.00%
Verizon Communications Inc. (VZ) $39.29 0.02%
Visa Inc. (V) $220.30 0.13%
International Business Machines Corporation (CDI) (IBM) $131.21 0.19%
Procter & Gamble Co. (PG) $140.84 0.24%
Salesforce.Com Inc. (CRM) $163.79 0.26%

S&P 500 - Risers

Nvidia Corp. (NVDA) $235.80 13.62%
Ansys Inc. (ANSS) $299.14 12.13%
FMC Technologies Inc. (FTI) $14.80 11.95%
Quanta Services Inc. (PWR) $163.56 10.22%
Dish Network Corp. (DISH) $13.97 6.80%
Unum Group (UNM) $44.67 6.23%
Coterra Energy Inc. (CTRA) $24.70 6.19%
Iron Mountain Inc (New) (IRM) $53.59 5.85%
Apache Corp. (APA) $39.72 4.93%
Advanced Micro Devices Inc. (AMD) $80.00 4.43%

S&P 500 - Fallers

eBay Inc. (EBAY) $44.75 -6.48%
Dollar General Corp (DG) $216.85 -3.74%
Netflix Inc. (NFLX) $323.95 -3.27%
LKQ Corporation (LKQ) $55.40 -2.29%
Raymond James Fin Corp. (RJF) $107.57 -1.78%
Dollar Tree Inc (DLTR) $141.79 -1.67%
NetApp Inc. (NTAP) $64.79 -1.58%
TJX Companies Inc. (TJX) $76.48 -1.27%
CenturyLink Inc. (LUMN) $3.65 -1.22%
Nektar Therapeutics (NKTR) $2.98 -1.00%

Nasdaq 100 - Risers

Nvidia Corp. (NVDA) $235.80 13.62%
Dish Network Corp. (DISH) $13.97 6.80%
Micron Technology Inc. (MU) $59.31 4.08%
Synopsys Inc. (SNPS) $366.38 3.19%
American Airlines Group (AAL) $16.02 2.99%
Liberty Global plc Series C (LBTYK) $21.93 2.86%
Baidu Inc. (BIDU) $140.72 2.63%
Asml Holdings N.V. (ASML) $640.28 2.57%
Liberty Global plc Series A (LBTYA) $21.19 2.44%
JD.com, Inc. (JD) $47.54 2.17%

Nasdaq 100 - Fallers

eBay Inc. (EBAY) $44.75 -6.48%
NetEase Inc. Ads (NTES) $81.04 -5.82%
Netflix Inc. (NFLX) $323.95 -3.27%
Dollar Tree Inc (DLTR) $141.79 -1.67%
T-Mobile Us, Inc. (TMUS) $145.15 -1.48%
Illumina Inc. (ILMN) $199.71 -0.99%
Starbucks Corp. (SBUX) $103.96 -0.77%
Ross Stores Inc. (ROST) $111.96 -0.62%
Sirius XM Holdings Inc (SIRI) $4.38 -0.57%
Costco Wholesale Corp. (COST) $494.80 -0.52%