Stock Market Surges as Jobless Claims Drop and GDP Strengthens; Cathie Wood Offloads Tesla Shares

Stocks were lower after a surprise drop in first-time jobless claims and strong first-quarter GDP data. Cathie Wood's ARK Invest ETFs sold over $7 million in Tesla stock. Micron Technology, McCormick, Paychex, and Simply Good Foods were key earnings movers. The Dow Jones Industrial Average rose 0.6%, while the S&P 500 inched higher. The Nasdaq composite lost 0.2%. JPMorgan, Merck, and Salesforce were among the Dow Jones stocks to watch. Chipotle, McKesson, MongoDB, and Lam Research were highlighted as top growth stocks. Apple and Microsoft were mixed.