The Dow Jones and S&P 500 gave up gains on the stock market today. Tesla stock tumbled after Q4 delivery numbers while Nvidia was a bright spot.

Over the holiday week, US mortgage rates rose to 6.97% to reach the highest level since early July, data showed. The gain weighed on applications for home purchases and dented refinancing, according to the Mortgage Bankers Association.

Ahead of the opening bell, Dow Jones futures rose 0.2% vs. fair value, as did S&P 500 futures. Tech-heavy Nasdaq 100 futures climbed 0.3% in morning trades. Please watch the video

The Nasdaq tested its 50-day in a wild start to 2025. Tesla and Apple were key losers, but some stocks flashed buy signals.

Stocks were slightly lower Thursday afternoon, retreating from gains earlier in the session, as the market picked up where it left off in 2024.