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Stocks changed direction and rose after existing-home sales unexpectedly picked up in February to an annualized rate of 4.26 million. Weekly jobless claims didn’t increase by as much as expected, and the Philadelphia Fed index dropped by less than estimated, to 12.5 in March from 18.1 last month.
The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average all advanced.
Here are some stocks to watch today:
Accenture
Accenture’s (ACN+0.71%) shares fell 9.8% after the consulting firm said the Trump Administration is delaying and canceling new contracts amid its push to cut government spending.
Darden Restaurants
Darden Restaurants’ (DRI+0.53%) stock jumped 6.9% as investors remained confident in the company’s prospects despite fiscal third-quarter numbers that missed expectations by some measures. Same-store sales growth of 0.7% fell short of the consensus estimate of 1.7%, as Olive Garden and LongHorn SteakHouse both missed expectations.
FedEx
FedEx (FDX-6.64%) stock gained about 0.5%. The delivery service is scheduled to report earnings after the close today. Both earnings per share and revenue are expected to increase year over year, according to a Zacks consensus estimate.
Micron
Micron’s shares (MU-8.15%) gained 1.8%. The chipmaker is scheduled to report quarterly earnings after the market closes today, with analysts estimate that per-share earnings and revenue will be in the middle of the forecast range.
Nike
Nike’s (NKE-5.58%) stock edged higher. The shoemaker is scheduled to publish quarterly earnings after the market closes today. Bank of America (BAC+0.05%) analysts said the results matter less than the company’s message about its product reset and evidence its new offerings are resonating with consumers.
Nvidia
Nvidia (NVDA-1.54%) will spend hundreds of billions of dollars on chips and other electronics manufactured in the U.S. over the next four years, out of about $500 billion of total electronics procurement, CEO Jensen Huang told the FT. The stock gained 0.8%.
QXO and Beacon
QXO’s shares gained about 4% after the Wall Street Journal reported that the building products distributor had reached an agreement to buy Beacon Roofing Supply (BECN-0.06%) for $124.35 a share. Beacon gained 1.9% to $123.83.
PDD
PDD Holdings’ ADRs gained 1.9% even after the Temu (PDD-3.83%) owner’s quarterly revenue missed expectations
Tesla
Tesla (TSLA+3.88%) swung between gains and losses after Commerce Secretary Howard Lutnick recommended investors buy stock in Elon Musk’s EV-maker, saying in a Fox News interview on Wednesday evening that “it’ll never be this cheap again.” And an analyst has some advice for Musk.
Zeekr
Zeekr’s (ZK) stock fell about 8.1% even after the Geely Auto EV unit reported fourth-quarter revenue that exceeded expectations as vehicle deliveries doubled year-over-year.