Stocks soar intraday while the auto sector slides: Yahoo Finance

The Dow Jones Industrial Average (^DJI) jumped by nearly 600 points intraday on Thursday, with the Nasdaq Composite (^IXIC) trailing behind with gains of 0.9%. The market averages hope to recover from Wednesday's sell-off that marked the worst trading day since 2022.

The Russell 2000 (^RUT) small cap index has also climbed over 2.5% as markets continue to rotate out of Big Tech. Some of the gains can be attributed to IBM's (IBM) jump of over 6% since the trading day began. The autos sector, however, is taking a hit following quarterly reports from Ford (F) and Stellantis (STLA), which both posted weaker-than-expected results. Stellantis reported first-half net profit of $6.07 billion, down 48% from the same period last year. Sales of Ford's Model E also took a hit as sales of EVs remain under pressure.

Looking ahead, investors patiently await earnings reports from Sketchers USA (SKX) and Deckers Outdoor (DECK) for more insight into the retail sector and the state of the consumer.

Trending Tickers on Yahoo Finance include Nvidia (NVDA) and ServiceNow (NOW).

Top guests today include:

3:05 PM: Savita Subramanian, BofA Securities Head of US Equity Strategy & US Quantitative Strategy
3:15 PM: Naftali Holtz, Royal Caribbean Group CFO
4:00 PM: David Sekera, Morningstar Chief US Market Strategist
4:10 PM: Bob Clark, ClayCo Founder & Executive Chairman