Stock Market Today: Video Zoom, Dollar Tree, Dollar General and more

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Stocks were little changed Thursday morning as the market waits for Federal Reserve Chairman Jerome Powell to speak at the Kansas City Fed’s Jackson Hole meeting on Friday.

Zoom video,

Nordstrom,

Dollar tree,

and

General dollar

stocks were on the move.

The

Dow Jones Industrial Average

gained 31.64 points, or 0.1%, while the

S&P 500

fell by 0.1%, and the

Nasdaq Composite

rose 0.1%. The S&P 500 and the Nasdaq both hit new records on Wednesday.

“The positioning of the pre-Powell speech will likely dominate the markets today (Powell’s speech is tomorrow) and given that stocks have hit new highs this week, don’t be surprised if there is a slight uptick. profit before Powell’s speech tomorrow, ”writes Tom Essaye, founder of Research Report Sevens.

The market will listen to what Fed Chairman Jerome Powell has to say about the future of the central bank’s bond buying program. As the economy strengthened, the Fed signaled that the process may begin soon, although the spread of the Delta variant has complicated matters.

“What investors want to hear is that in response to an impressive improvement in the economy, the Federal Reserve plans to gradually reduce its extraordinary measures because they are no longer needed, but will do so gradually,” David said. Donabedian, Chief Investment Officer, CIBC Private Wealth Management, United States.

Elsewhere, 353,000 Americans have applied for unemployment benefits for the first time, slightly less than estimates of 350,000, but not enough to move markets. “While there has been a slight uptick this week, we don’t think there is anything to worry about here,” writes Jefferies economist Thomas Simons. “The back up is not big enough to signify a fundamental change in the flow of the labor market.”

Here are six stocks making moves in Thursday’s pre-market action:

Williams-Sonoma

(WSM) rose 10% after posting earnings of $ 3.24 per share, beating estimates of $ 2.60 per share, on sales of $ 1.95 billion, above expectations of 1 , $ 81 billion.

Dollar General (DG) stock fell 7.6% after posting profit of $ 2.69 per share, beating estimates of $ 2.59 per share, on sales of $ 8.7 billion, above expectations of $ 8.6 billion.

Dollar tree

(DLTR) fell 11% after posting earnings of $ 1.23 per share, beating estimates of $ 1 per share, on sales of $ 6.3 billion, below expectations of $ 6.4 billion of dollars.

Zoom Video Communications (ZM) stock rose 3.5% after being overweight Equal Weight at Morgan Stanley.

Yum! Brands

(YUM) stock fell 1.4% after being downgraded to Perform from Surperformer at Oppenheimer.

Nordstrom (JWN) fell 4.8% after the department store operator was demoted to Equal Weight Underweight at Morgan Stanley. Nordstrom shares fell 18% on Wednesday after the publication of its results.

Write to Jacob Sonenshine at [email protected]