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U.S. stocks declined Thursday morning as markets reacted to ongoing tariff tensions and relief measures. The S&P 500 and Nasdaq-100 fell 0.6% and 0.7%, respectively, while the Dow Jones Industrial Average dropped 0.2%.
Meanwhile, weekly initial jobless claims dropped by 21,000 to 221,000 for the week ending March 1, down from the previous week’s unrevised 242,000, falling short of expectations.
However, continuing claims, a measure of the number of people receiving unemployment benefits, climbed to their highest level since January, nearing a three-year peak. This suggests that unemployed individuals are facing greater difficulty finding new jobs and overall hiring remains subdued.
Here are stocks to watch today:
Broadcom
Shares of Broadcom (AVGO-4.72%) declined 4.5% in the morning trading as the semiconductor manufacturer prepares to report earnings after the closing bell.
Kroger
Kroger (KR+3.32%) shares bounced back Thursday morning after the grocery chain delivered a mixed fourth-quarter report and offered a cautious outlook for the current fiscal year. The rebound followed the resignation of former CEO Rodney McMullen earlier this week, who forfeited over $11 million amid an investigation into his personal conduct.
Macy’s
Macy’s (M-0.26%) stock fell in the morning trading after the department store chain reported mixed earnings and issued a weak outlook for the current quarter.
Marvell
Marvell Technology’s (MRVL-17.27% shares were down 18% in the morning hours as the semiconductor company’s guidance report for the current quarter couldn’t impress investors.
MongoDB
MongoDB (MDB-22.85%) shares plunged 21% in the morning after the database software company reported strong earnings and revenue but issued weaker-than-expected guidance.
Nvidia
Nvidia (NVDA-3.31%) shares dropped nearly 3% in the morning trading as investors navigated the latest U.S. tariffs and trade tensions.
Starbucks
Starbucks shares dropped over 4% in the morning after the company laid off workers yesterday. The CEO told corporate employees to work harder and take responsibility for the coffee giant’s financial health.