The Dow Jones Industrial Average and other major indexes traded mixed Friday, as Wall Street reacted to several economic reports, including a consumer sentiment report that includes an inflation survey. Meanwhile, tech giants Broadcom, Meta Platforms and Netflix were among the best stocks to buy and watch on the stock market today.
After the opening bell, the Dow Jones Industrial Average fell 0.4%, while the S&P 500 edged higher. The tech-heavy Nasdaq composite rose 0.2% in morning trades.
The 10-year Treasury yield edged upward to 4.65% early Friday. And oil prices posted a marginal gain, with West Texas Intermediate futures trading around $74.80 per barrel.
Among exchange traded funds, the Invesco QQQ Trust gained 0.2%, as the SPDR S&P 500 ETF moved up less than 0.1% after the open.
Find The Next Palantir Or Hot IPO In 2025 With This Tool
Stock Market Today: Economic Data Due
The S&P Global's Purchasing Managers Index, or PMI, showed the manufacturing index rising to 50.1 in January. It was expected to fall to 48.9, vs. December's 49.4 reading. The PMI services index dropped to 52.8. It was expected to ease to 56.7 vs. last month's 56.8 reading, per Econoday.
Existing home sales from the National Association of Realtors rose at an annual rate of 4.24 million, topping estimates. They were expected to rise at an annual rate of 4.16 million in December, up from November's 4.15 million.
Finally, the University of Michigan's consumer sentiment fell to 71.1. It was expected to remain unchanged at 73.2 in the final report for January vs. the preliminary number. In the inflation survey, year-ahead inflation expectations jumped from 2.8% last month to 3.3% this month in the final number.
Elsewhere, key earnings movers Friday morning include American Express, Intuitive Surgical, Texas Instruments and Verizon Communications.
Shares of American Express tumbled 3.3% in morning trading, while Intuitive Surgical dropped 4%. Texas Instruments shares declined 6%. Finally, Verizon stock rallied almost 1% in early morning trade.
Nvidia Dethrones Apple As Google And Amazon Lock Horns
Dow Jones Rallies
On Thursday, the Dow Jones Industrial Average gained 0.9%, while the S&P 500 advanced 0.5% to hit a new high. The Nasdaq climbed 0.2%. Following recent bullish action, now is a good time to check IBD's The Big Picture for an update on the current exposure level.
Among the best companies to watch in the current stock market are tech giants Amazon.com, Broadcom, Meta Platforms, Netflix and Spotify.
Along with Apple and Nvidia, Dow Jones components making notable moves were Microsoft and Walmart.
Meta and Walmart are featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Despite Struggles, Palantir Secures Spot Among 25 'Perfect' Stocks
Dow Jones: Walmart Eyes Buy Point
Dow Jones retail giant Walmart is building a flat base that offers a 96.18 buy point, according to MarketSurge pattern recognition. Shares ticked 0.2% higher Friday.
Outside the Dow Jones index, chip giant Broadcom moved down 0.3% Thursday, about 5% below a 251.88 buy point in a flat base. Broadcom stock was down a fraction in morning action Friday.
Social media platform Meta is approaching a 638.40 buy point, and closed Thursday just below it. Meta stock wavered in Friday's trading.
Streaming giant Netflix is at the top of the buy range past a 941.75 buy point in a flat base. Shares tacked on 0.3% Friday
Meanwhile, Spotify is attempting to break out past a flat base's 506.47 entry following this week's positive action. Shares gained 0.8% Friday morning.
Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Broadcom | 251.88 | Flat base | |
| Walmart | 96.18 | Flat base | |
| Spotify | 506.47 | Flat base | |
| Meta Platforms | 602.95 | Flat base |
Source: IBD Data as of Jan. 20
AI-Fueled Energy Stock Has This Edge Over The Nvidias Of The World
Nvidia Falls, Tesla Bounces
Nvidia rose 0.6% Friday morning, looking to extend a four-day win streak. Shares are within striking distance of their record highs following this week's gains.
Meanwhile, electric-vehicle giant Tesla dropped another 0.8% Thursday, extending a losing streak to three sessions. Shares appear to be finding support around their 10-week line, and they may be forming a new base.
But Tesla stock bounced back 0.9% in early action Friday.
Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which rallied this week to break out above a 233 buy point in a flat base. That's a new buying opportunity for the e-commerce giant. It fell 0.2% Friday.
Shares of Apple edged lower Thursday, just off their mid-September lows. But they rebounded by 0.5% early Friday.
Microsoft shares dropped 1.2% Friday morning. This week, the software giant bullishly reclaimed its 50-day moving average.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
