Stock Market Today: Nasdaq Drops As Nvidia Plunges; Chip Spinoff Soars (Live Coverage)

Major stock indexes wrapped up Thursday’s intense session of selling mixed, with the broad market and shares in Nvidia (NVDA) alike failing to capitalize on better-than-expected earnings from the heavyweight chipmaker. The Dow Jones Industrial Average edged back into positive territory, while the benchmark S&P 500 and the Nasdaq composite dropped on the stock market today.

Nvidia tumbled, losing more than 5% and declining amid wider weakness in tech stocks. But a standout was chip gear maker Qnity Electronics (Q) – a DuPont (DD) spinoff – as its stock surged.

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The Dow Jones Industrial Average gained less than 0.1%. It opened higher, turned lower, then managed a marginal win. The S&P 500 fell 0.5% but edged off the day’s low. The benchmark index tested support at its 50-day moving average. The tech-heavy Nasdaq composite lagged, tumbling 1.2%. The Russell 2000 index of small-cap stocks outperformed, gaining 0.6%.

Among the S&P 500 sectors, financials, energy, real estate and industrials gained. Technology and communication services fell, reflecting weakness in growth names.

Volume on the New York Stock Exchange and on the Nasdaq was higher compared with the same time on Wednesday. Breadth was positive with advancers beating decliners by 3-to-2 on the NYSE and by a smaller margin on the Nasdaq.

The yield on the benchmark 10-year Treasury note fell three basis points to 4.01%. Crude oil, as seen in West Texas intermediate futures, was unchanged at $65.42 a barrel.

3:32 p.m. ET

Dupont Spinoff Surges On Earnings Beat

Among chip equipment makers, Qnity stepped higher but trimmed some of its hefty gains after the company delivered an earnings and sales beat for its fourth quarter. Earnings of 82 cents per share came in ahead of views for 63 cents while sales of $1.19 billion topped estimates of $1.16 billion.

For 2026, the company predicted earnings of $3.75 a share on sales of $5.07 billion at the midpoint. Both were above views of $3.07 a share on sales of $5.06 billion.

Shares of the recent Dupont (DD) spinoff started trading on the New York Stock Exchange in November. On Thursday, the stock surged past a profit zone from a buy point of 105.40 before trimming gains to just under 4%.

Nvidia Hits AI Stocks, But S&P 500 Holds Key Support

2:36 p.m. ET

Stock Market Today: Nvidia Slumps, ACM Research Plunges

Nvidia, a member of Wall Street’s key large-cap indexes, slumped more than 5%, falling to session lows. The stock had climbed after beating fourth-quarter and outlook expectations after the bell Wednesday. Shares of the artificial intelligence chip designer have fallen below an early entry of 194.49 and to their 50-day moving average.

“It’s probably fair to say that Nvidia’s results failed to fully impress, despite broadly solid numbers,” David Morrison, senior market analyst at Trade Nation, said in a note early Thursday.

He added: “But this wasn’t the ‘stellar’ results with which the market has become accustomed, and this has left many investors pondering: ‘What next?’ It’s also worth noting that the stock had already rallied ahead of the earnings report.”

ACM Research (ACMR) plummeted more than 18% after posting mixed results. Earnings for its December quarter came in at 25 cents per share, missing estimates of 43 cents. Sales of $244.4 million beat views of $241 million. Shares had rallied past a 20% profit zone from a buy point of 45.12.

ACM Research offers packaging technologies for the chip industry.

1:19 p.m. ET

Salesforce Higher After Earnings; Software Stocks Gain

But topping the Dow was Salesforce, rising nearly 3%. The stock was on course for a third straight increase. The software giant late Wednesday posted fourth-quarter earnings of $3.81 per share, topping the $3.05 consensus estimate. Sales of $11.2 billion met views.

The shares had fallen earlier after the company’s fiscal 2027 sales outlook of $46 billion came in below estimates of $46.11 billion.

Salesforce shares fell below their 50-day moving average in January and hit multiyear lows. They have reversed higher this week but remain below the key level.

In the Nasdaq, software stocks that rose included Atlassian (TEAM), Zscaler (ZS) and CrowdStrike (CRWD) as well as Datadog (DDOG)and Workday (WDAY). All of those stocks rose 3% or more.

Software stocks have been beaten down this year amid fears of disruption from AI tools.

12:14 p.m. ET

FTAI Reverses Higher

FTAI Aviation (FTAI) stock found strength from the company’s improved outlook. Shares were extended coming into the fourth-quarter earnings report and fell before turning higher for a 5% gain.

The company bumped up its 2026 forecast for adjusted EBITDA to a range of $1.525 billion to $1.625 billion. It also raised its dividend to 40 cents from 35 cents from the previous quarter.

FTAI’s earnings per share rose to $1.08 but were below Wall Street’s estimate of $1.24. Sales of $662 million missed views of $697 million.

11:00 a.m. ET

Stock Market Today: Quantum Stock Soars

IonQ (IONQ) popped more than 20% following its fourth-quarter report. The quantum computer play lost 20 cents per share, narrower than the loss of 51 cents per share analysts had targeted. Sales of $61.9 million surpassed expectations of $40.4 million.

The company’s sales outlook for 2026 came in at $235 million at the midpoint, well above estimates of $201 million.

Shares approached their 50-day moving average after trading below the line since November.

9:55 a.m. ET

Nasdaq-100 Movers: Atlassian, Broadcom, Nvidia

Within the Nasdaq-100 index, Atlassian (TEAM) and Datadog (DDOG) rallied roughly 3.7% each, making them some of the best performers just after the market open.

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Meanwhile, Broadcom (AVGO) and Western Digital (WDC) sold off 2.5% apiece in morning trading. And Nvidia declined 2% in early action.

9:23 a.m. ET

Dow Jones Index Winners, Losers: IBM, Chevron

Inside the Dow Jones Industrial Average, IBM (IBM) and Nike (NKE) climbed 1.1% and 0.5%, respectively, before the start of the regular trading session.

On the downside, Chevron (CVX) and Amgen (AMGN) declined 0.9% and 0.5%, respectively.

8:41 a.m. ET

Stock Market Today: Jobless Claims

Early Thursday, the Labor Department said jobless claims rose to 212,000 vs. 206,000 in the previous week, just below estimates.

They were expected to rise to 215,000.

8:06 a.m. ET

Nvidia Stock Rallies On Earnings

Dow Jones component and artificial intelligence giant Nvidia rallied nearly 1% premarket Thursday, set to move further above an early entry at 194.49. Shares are building a cup base with a 212.19 ideal buy point, according to IBD MarketSurge chart analysis.

Late Wednesday, the AI chipmaker beat Wall Street’s targets for its fiscal fourth quarter and with its outlook for the current period.

Nvidia earned an adjusted $1.62 a share on sales of $68.13 billion for the quarter. Analysts polled by FactSet had expected Nvidia to earn an adjusted $1.54 a share on sales of $66.13 billion for its fiscal fourth quarter. In the year-earlier period, it earned an adjusted 89 cents a share on sales of $39.33 billion.

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Other Earnings Movers: Celsius, Salesforce, Trade Desk

Early Thursday, Baidu (BIDU), Celsius (CELH), IonQ (IONQ), FTAI Aviation (FTAI), Pure Storage (PSTG), Salesforce (CRM), Snowflake (SNOW) and Trade Desk (TTD) were big earnings movers.

Baidu shares dropped nearly 4%, while Celsius stock surged more than 12%. IonQ shares soared more than 14%, while FTAI Aviation tumbled 6% in premarket trading. Pure Storage shares climbed more than 4%, as Salesforce stock sold off nearly 3%. Snowflake climbed nearly 2% in early morning action. Finally, Trade Desk plunged more than 14% in premarket trade.

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Stock Market Today: Jobless Claims

Early Thursday, the Labor Department’s weekly initial unemployment claims are due at 8:30 a.m. ET. Claims are expected to rise to 215,000 vs. 206,000 in the previous week, according to Econoday estimates.

On Friday, the Labor Department’s producer price index, a measure of wholesale inflation, is on the schedule. January is expected to show a monthly increase of 0.3%, with an annual increase of 2.8%.

**Breakout Watch: Strategic Shift Transforms This IBD 50 AI Play

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_Be sure to follow Scott Lehtonen on X _at @IBD_SLehtonen for more on growth stocks, the Dow Jone__s Industrial Average and the stock market today.

Please follow VRamakrishnan on X/Twitter for more news on the stock market today.

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