The Dow Jones Industrial Average and other major stock indexes traded lower Friday after inflation data from the University of Michigan's consumer sentiment report. Meanwhile, Block and Rivian were big earnings losers on the stock market today.
After the opening bell, the Dow Jones Industrial Average traded down 0.9%, while the S&P 500 lost 0.4%. The tech-heavy Nasdaq composite moved down 0.2% in early morning trades.
The 10-year Treasury yield ticked lower to 4.49% early Friday. And oil prices dropped, as West Texas Intermediate futures traded around $71.85 per barrel.
Among exchange traded funds, the Invesco QQQ Trust fell 0.2%, while the SPDR S&P 500 ETF moved down 0.4% ahead of the open.
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Inflation Data, Earnings Movers
The University of Michigan's consumer sentiment survey missed estimates Friday, falling to 64.7. It was expected to rise to 68.0 in the final reading for February, up from the 67.8 preliminary reading. And year-ahead inflation expectations held steady at 4.3% in the final reading as pricing fears materialized in response to the threat of tariffs. Meanwhile, five to ten year inflation expectations jumped to 3.5%.
Square-parent Block reported fourth-quarter earnings and revenue that missed Wall Street estimates. Square stock plunged more than 15% Friday as investors mulled mixed results for key financial metrics and a 2025 outlook.
Rivian gave a mixed outlook late Thursday after beating fourth quarter expectations. Rivian stock dropped 3% in morning trading.
Other big earnings movers Friday include Booking and MercadoLibre. Booking rallied 3.6% in early morning action. MercadoLibre soared 7%, breaking out past a 2,146.82 buy point in a double bottom.
Elsewhere, UnitedHealth plunged more than 9% in light of a reported Department of Justice probe on Medicare billing.
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Stock Market Today: Dow Jones Eyes New High
On Thursday, the Dow Jones index sold off 1%, while the S&P 500 moved down 0.4% and the Nasdaq composite lost 0.5%. Meanwhile, the small-cap Russell 2000 index declined 0.9%.
Among the best companies to watch in the current stock market are eBay, Pinterest and Wells Fargo.
Along with Apple and Nvidia, Dow Jones components making notable moves were Amazon, Microsoft and Salesforce.
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.
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Dow Jones: Salesforce Shows New Buy Point
Dow Jones component Salesforce is building a flat base with a 369 buy point, according to MarketSurge pattern recognition. But the stock must retake its 50-day moving average line first. Shares were down 0.2% in early action Friday.
Outside the Dow, IBD Leaderboard name Wells Fargo is holding above a cup base's 78.13 buy point despite Thursday's 2.1% slide. Wells Fargo stock rose 0.3% early Friday.
EBay stock is forming a flat base that has a 71.52 buy point. Shares added 0.7% Friday morning.
And Pinterest stock is adding a handle to a big cup base following the earnings-fueled surge of 19% on Feb. 7. The buy point is 40.90. Shares tacked on 0.3% Friday.
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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 |
|---|---|---|---|
| Toast | 41.50 | Cup with handle | |
| Salesforce | 369 | Flat base | |
| Wells Fargo | 78.13 | Cup base | |
| 40.90 | Cup with handle |
Source: IBD Data as of Feb. 21
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Nvidia, Tesla Stock Fall
Artificial intelligence chip maker Nvidia rose 0.6% Thursday, holding squarely above its 50-day moving average. Shares are forming a double-bottom base with a 148.97 buy point, with an early entry at 143.44, the high price on Feb. 18.
Nvidia stock moved 0.1% lower Friday.
Tesla skidded 1.7% Thursday, set to finish the week with a slight loss. Shares remain about 27% off their 52-week high and sharply below their 50-day line. Tesla stock lost 0.6% in early morning trading Friday.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Dow Jones component and Magnificent Seven stock Amazon continues to fall further below its 50-day line and a 233 buy point. But Amazon stock moved down 0.1% early Friday.
Apple stock, which edged higher Thursday, is approaching an early buy point at 247.19, or the high of Jan. 31, and is moving up the right side of a new base. Shares gained 0.3% Friday.
Finally, software giant Microsoft moved up 0.2% Friday. Shares have rallied in recent sessions, but are still sharply below their 50-day line.
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.
