Market Pulse: Dow Rises on Positive Core PCE Data, Semiconductor Stocks Surge

The stock market experienced a mix of trends on Thursday, with the Dow initially facing some pressure but ultimately gaining positive momentum. Investors were particularly encouraged by January's core PCE price index, which showed an increase of 0.4% month over month and 2.8% year over year, in line with expectations. This data helped boost market sentiment and contributed to the overall positive tone for the day. Semiconductor stocks were among the top performers, with a notable bullish note from Citi analysts favoring the sector. The optimism surrounding the semiconductor industry helped drive gains in related stocks throughout the trading session. One standout stock from Thursday's trading was Eaton, which hit an all-time high after announcing a 9% increase in its quarterly dividend. This move reflected the company's strong growth potential in the industrial sector and drew positive attention from investors. As earnings season winds down, several notable companies reported their latest financial results after the bell. Companies like Zscaler, Dell Technologies, and Autodesk provided insights into their performance, offering investors a glimpse into various sectors of the economy. In other news, a new CNBC original documentary titled "Big Shot: The Ozempic Revolution" is set to focus on Novo Nordisk's Ozempic and related GLP-1 class medications. The documentary aims to provide viewers with a deeper understanding of these treatments and their impact on the healthcare industry. However, not all stocks saw positive movement on Thursday. Viking Therapeutics experienced a decline in its stock price after raising $550 million through a share offering. This development underscored the importance of financial stability in the biotech industry and served as a reminder of the challenges companies in this sector may face. Subscribers to the CNBC Investing Club with Jim Cramer were kept informed throughout the trading day, receiving trade alerts before any portfolio actions were taken. The club's members benefit from specific waiting periods after TV mentions before trades are executed, ensuring a thoughtful approach to investing decisions. Looking back at Wednesday's market activity, U.S. stocks trended lower as investors awaited January's PCE price index data for insights into inflation. Despite this cautious sentiment, TJX Companies stock reached an all-time high after reporting strong earnings and providing conservative yet achievable guidance. Jim Cramer advised investors to hold onto TJX stock, highlighting the company's track record as a solid performer in investment portfolios. Salesforce was scheduled to release its quarterly results after the market close on Wednesday, with Jim cautioning shareholders about a potential pullback post-earnings. Conversely, Eli Lilly shares declined 1% as investors assessed news from a potential competitor in the diabetes and weight-loss drug space. Viking Therapeutics saw a 14% gain following significant previous increases, with Jim noting that competition could impact Eli Lilly's stock more significantly if it posed a genuine threat to their offerings. Overall, the stock market continues to navigate a mix of trends and news developments, with investors closely monitoring earnings reports, economic data, and industry-specific updates to make informed decisions in the ever-changing market landscape.