Dow Hits High, AI Stocks Shrug Off Broadcom, Ciena; Jobs …

The stock market experienced mixed results with Dow Jones futures declining slightly after a strong previous rise. Industries like healthcare showed resilience with major stocks like Eli Lilly and UnitedHealth signaling potential buy opportunities. Broadcom and Ciena faced sell-offs despite positive reports, negatively impacting AI stocks initially, but they recovered somewhat throughout the day. The upcoming May jobs report is anticipated, with economists forecasting modest payroll growth. Investors are advised to stay aggressive in the current market environment while monitoring stocks that have regained momentum.

BREAKING: Tech Futures Fall After Market Shrugs Off Broadcom, Ciena

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Stock Market Today 4:55 PM ET

Blue Chips Soar, Nasdaq Snaps Back: Veeco, Citigroup, Indivior In Focus

AVGO0.24%

Stock Market Today 4:34 PM ET

Dow Jones Hits High, AI Stocks Shrug Off Broadcom, Ciena Sell-Offs; Jobs Report Looms

RBRK1.56%

Technology 4:34 PM ET

Rubrik Earnings, Revenue, Guidance Beat. Shares Waver.

Dow Jones futures fell slightly after hours, along with S&P 500 futures and Nasdaq futures. The May jobs report is on tap before Friday's open.

The stock market saw the Dow Jones jump to a record high, aided by lower oil prices and Treasury yields. The S&P 500 and Nasdaq, initially dragged down as Broadcom ( AVGO) and NYSE-listed Ciena ( CIEN) hit AI plays, quickly rebounded, with the S&P 500 closing up.

↑X

Blue Chips Soar, Nasdaq Snaps Back: Veeco, Citigroup, Indivior In Focus

Alissa Coram and Ken Shreve walk through Thursday’s market action and discuss key stocks to watch in Stock Market Today.

Dow Jones Futures Today

Dow Jones futures edged lower vs. fair value. S&P 500 futures declined 0.1% and Nasdaq-100 futures fell 0.2%.

The Labor Department will release the May jobs report at 8:30 a.m. ET. Economists expect a modest payrolls gain of 85,000 after April's increase of 115,000. The jobless rate should hold steady at 4.3%.

Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze leading stocks and the market on IBD Live

Key Earnings

Cybersecurity firm Rubrik ( RBRK), satellite imagery company Planet Labs ( PL), heavy construction play Argan ( AGX) and Internet of Things software maker Samsara ( IOT) reported after the close.

Argan stock surged in overnight action, signaling at least an early entry and likely a breakout from a short consolidation.

Samsara stock retreated solidly, consolidating after a recent move above the 200-day line.

Planet Labs declined modestly in extended trade. Shares have pulled below the 21-day line after a strong run, but were still well above the 50-day line.

Rubrik stock fell modestly. Shares have been retreating after a strong move above the 200-day line recently.

Stock Market Rally

The stock market rally opened Thursday with the S&P 500 and especially the Nasdaq falling in reaction to Broadcom, Ciena and CrowdStrike. But the S&P 500 reversed higher while the Nasdaq slashed losses. Meanwhile the Dow Jones opened higher and kept running, hitting a new high, along with the small-cap Russell 2000.

The Dow Jones Industrial Average ran up 1.7% in Thursday's stock market trading. The S&P 500 index climbed 0.4%. The Nasdaq composite fell 0.1%. The Russell 2000 jumped 1.45%.

Even at morning lows, the S&P 500 and Nasdaq only undercut their 10-day moving averages. They haven't even touched their 21-day exponential moving averages since the April 8 market follow-through day.

universal chart

NASDAQ Composite Index(COMP)

$26830.96

23.02 down

0.09%

(left-click to pin tooltip)(right-click to deleteright-click to manage)(long-press to drag)(drag to change anchor time)

0ndqc

Date2025-08-29

High21631.15

Low21397.98

Last21455.55

Chg-249.61

Vol7,715,434,899

‌volume‌

Provided by Nasdaq Last Sale.

Last update:

Real-time quote and/or trade prices are not sourced from all markets.

06/04/2026 (Market Close)

Broadcom stock dived 12.6% and Ciena plunged 13.7% despite both giving beat-and-raise reports.

Chip, optical and other AI buildout stocks were notable losers Thursday morning, but rallied back for small losses or even gains. Google stock rose 3.7%, rebounding back above the 10-week line, with a potential entry above the 21-day line. Comfort Systems stock popped 3.5%, bouncing off the 10-week line and reclaiming the 21-day, with Wednesday's high an early trigger.

The Invesco S&P 500 Equal Weight ETF ( RSP) rose 0.8%, hitting a new high. The Direxion Nasdaq-100 Equal Weighted ETF ( QQQE) dipped 0.2%, but just below Wednesday's all-time high.

Health care was strong across a variety of sectors. Regional banks fared well.

U.S. crude oil prices fell 3.1% to $93.04 a barrel, paring big weekly gains.

The 10-year Treasury yield dipped about two basis points to 4.475%.

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ETFs

Among growth ETFs, the CapForce IBD 50 ETF ( FFTY) rose 1.2%. The iShares Expanded Tech-Software Sector ETF ( IGV) edged down 0.1%. The VanEck Vectors Semiconductor ETF ( SMH) sank 1.6%, dragged down by Broadcom.

ARK Innovation ETF ( ARKK) rose 2.4% and ARK Genomics ETF ( ARKG) surged 6.9%.

SPDR S&P Metals & Mining ETF ( XME) and Energy Select SPDR ETF ( XLE) edged up 0.1%. The Health Care Select Sector SPDR Fund ( XLV) popped 3.1%, with Eli Lilly stock the No. 1 holding, UnitedHealth a major position and CVS also in the ETF.

The Industrial Select Sector SPDR Fund ( XLI) gained 1.2%. The Financial Select SPDR ETF ( XLF) climbed 2.6%. The SPDR S&P Regional Banking ETF ( KRE) rose 3.1%.

Best Growth Stocks To Buy And Watch

Stocks In Buy Zones

Eli Lilly stock rallied 4.3% to 1,125.27, now clearly above the downtrend of a high handle, offering an early entry. LLY stock briefly reclaimed a 1,133.95 cup-base buy point. Investors also could use 1,149.10 as a high-handle entry.

universal chart

Eli Lilly(LLY)

$1125.27

46.49

4.31%

(left-click to pin tooltip)(right-click to deleteright-click to manage)(long-press to drag)(drag to change anchor time)

lly

Date2025-08-29

High737.42

Low728.50

Last732.58

Chg+0.62

Vol2,551,151

‌volume‌

Provided by Nasdaq Last Sale.

Last update:

Real-time quote and/or trade prices are not sourced from all markets.

06/04/2026 (Market Close)

UnitedHealth stock jumped 5.2% to 396.47, bounding off the 21-day line and breaking the downtrend of an emerging new consolidation, just above a long, deep base. Investors could view the past few weeks as a high handle, with a 404.15 entry.

CVS stock popped 3.8% to 94.82, breaking the downtrend of an emerging base and extending Wednesday's move above the 21-day line.

BillionToOne stock leapt 6.3% to 104.59, clearing an early entry at 100 and briefly topping a short consolidation at 107. The testing firm is profitable and growing fast, but BLLN stock is prone to selling off just as it appears to be clearing resistance.

universal chart

BillionToOne(BLLN)

$104.59

6.23

6.33%

(left-click to pin tooltip)(right-click to deleteright-click to manage)(long-press to drag)(drag to change anchor time)

blln

‌volume‌

Provided by Nasdaq Last Sale.

Last update:

Real-time quote and/or trade prices are not sourced from all markets.

06/04/2026 (Market Close)

Axogen stock rose 4.3% to 42.39, bouncing off the 21-day line after finding support at the 50-day line on Tuesday. Shares are forging a new base. AXGN is actionable here or above the May 20 high of 44.22.

What To Do Now

Sometimes a market shows its character by what it doesn't do. Broadcom and Ciena tumbling could have been the catalyst for a major sell-off, at least on the Nasdaq and leading techs. The Nasdaq did have a bad open but quickly slashed losses. AI stocks came well off lows or advanced.

Meanwhile, the Dow Jones hit a new high while a variety of medical names flashed buy signals.

If the market breaks levels or individual positions trigger sell rules or simply lag, you'll need to take action. But for now, the current power trend means investors should lean toward being more aggressive and giving winners room to run.

Some AI stocks are near entries. Note the names that were quick to rebound Thursday. But health care, metals and some other sectors also are worth watching.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

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9:55 AM ET Alissa Coram and Ken Shreve walk through Thursday's market action and discuss key stocks to watch in Stock Market Today.

9:55 AM ET Alissa Coram and Ken Shreve walk through Thursday's market action...

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Dow Hits High, AI Stocks Shrug Off Broadcom, Ciena; Jobs Data Due

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