10 Top-Traded US Stocks for Thursday (7/1)

Movers and Shakers wrote a column · Jul 1, 2021 21:01

The $S&P 500 Index(.SPX.US)$rose 0.5% during Thursday's regular session and notched its sixth-straight record close, finishing above 4,300 for the first time at 4,319.94. The $Dow Jones Industrial Average(.DJI.US)$was higher by 131 points to close at 34,633.53, while the tech-heavy $Nasdaq Composite Index(.IXIC.US)$ticked up about 0.1% to 14,522.38.

Those gains added to already-robust 2021 market returns.

10 Top-Traded US Stocks for Thursday (7/1)

U.S. investors await the Labor Department's all-important monthly jobs report
The jobs report on Friday will show how many payrolls American employers added last month. Economists expect nonfarm payrolls grew by 706,000 jobs in June and that the unemployment rate fell to 5.6% from 5.8%, according to Dow Jones.

The average hourly wage is estimated to have jumped 0.3% on a month-over-month basis, and climbed 3.6% over the last 12 months.

"For the first time in over two years, the upcoming jobs report may make the Fed get more aggressive about reducing accommodation, and as such the biggest risk for tomorrow's report is that it's 'Too Hot,'" The Sevens Report founder Tom Essaye wrote.

10 top-traded US stocks for Thursday

$Tesla(TSLA.US)$tops the rank and dropped slightly by 0.26%.

$NVIDIA(NVDA.US)$advanced 1.05% and ranks second. BMO Capital Markets analyst Ambrish Srivastava boosted his price target on shares of Nvidia Corp. to $1,000 from $750, with the new target being the highest among analysts tracked by FactSet who cover Nvidia's stock. Srivastava is upbeat about the growing relevance of software to the Nvidia business model.

$Apple(AAPL.US)$and $Amazon(AMZN.US)$follow with small changes in price.

$NIO Inc(NIO.US)$shot up more than 3.5% at the open on Thursday before giving that back and then some, trading down by more than 4% at close. NIO disclosed that it delivered 8,083 vehicles in June, a new monthly record, 116% more vehicles than it delivered in June 2019. The company delivered 21,896 vehicles in Q2, up from 20,060 in Q1. However, investors are a bit nervous about whether NIO will hit analyst expectations of 90,000 to 100,000 deliveries for the year.

$Facebook Inc(FB.US)$ranks sixth and jumped by almost 2%.

$Advanced Micro Devices(AMD.US)$and $Microsoft(MSFT.US)$follow with small variances.

$Micron Technology(MU.US)$ranks ninth and lost 5.7% despite beating quarterly earnings estimates by 16 cents a share, reporting $1.88 per share. Micron's revenue topped Wall Street forecasts as well. Micron sold a Utah semiconductor factory to Texas Instruments for $900 million in cash.

$AMC Entertainment(AMC.US)$dipped 4.3% on Thursday.

Movers & Shakers for Thursday