The Dow Jones Industrial Average and other major stock indexes traded mixed Friday, as investors awaited a key inflation survey. In stocks, Nvidia and Tesla looked to continue their rallies, while Google-parent Alphabet surged on earnings.
After the opening bell, the Dow Jones Industrial Average lost 0.2%. The S&P 500 rose 0.1%, while the tech-heavy Nasdaq composite dropped 0.1%.
The 10-year Treasury yield ticked lower to 4.28% early Friday. Meanwhile, oil prices dropped, as West Texas Intermediate futures traded near $62 per barrel.
Among exchange traded funds, the Invesco QQQ Trust fell 0.1%, while the SPDR S&P 500 ETF moved up 0.1% after the open.
Tesla stock climbed another 1.8% in early action Friday, on pace to end with a weekly gain of around 8%. Shares remain nearly 49% off their record high of 488.54, reached on Dec. 18.
Nvidia stock gained 0.8% in morning action Friday. Shares of the artificial intelligence giant rallied sharply for a third-straight session Thursday, but are still far below their 50-day and 200-day moving averages.
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Stock Market Today: Inflation Survey, Earnings Movers
The University of Michigan's consumer sentiment reading is due out at 10 a.m. ET. The index is expected to edge lower from 50.8 to 50.5 in the final April report. One-year inflation expectations are seen unrevised at a high 6.7% from the preliminary April report, according to Econoday.
In stocks, Google-parent Alphabet delivered first-quarter earnings and revenue that topped analyst estimates as internet search advertising growth beat expectations. Google stock jumped more than 3% Friday.
Other key earnings movers Friday morning included Agnico-Eagle Mines, Intel, Skechers and T-Mobile US.
Shares of Agnico slipped nearly 2%, as Intel stock tumbled 7.5% in morning action. Skechers shares plunged 3.5%. Finally, T-Mobile stock dropped 8.8% in early morning trading.
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Dow Jones Extends Rally
On Thursday, blue chips on the Dow Jones Industrial Average climbed 1.2%, or 486 points. The S&P 500 rose 2%, while the Nasdaq composite advanced 2.7%. Also, the small-cap Russell 2000 gained 2%.
Due to current market volatility, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are CrowdStrike, MercadoLibre, Penumbra, Spotify and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and McDonald's.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Investor also can find 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 Stocks: McDonald's Nears Buy Point
Shares of Dow Jones component McDonald's were 1% higher Friday after briefly rallying above an early entry at 319.72 earlier this week. The stock is forming a flat base with a 326.32 buy point, according to MarketSurge chart analysis.
Outside the Dow, cybersecurity leader and new IBD Leaderboard stock CrowdStrike is in breaking out past a 400.02 buy point in a cup with handle, according to IBD MarketSurge chart analysis. Shares added 0.8% Friday morning.
E-commerce giant MercadoLibre is just above a 2,202 buy point in a double bottom, according to IBD MarketSurge. MercadoLibre stock fell 0.1% Friday.
Penumbra also broke out Thursday, topping a 288.57 double-bottom entry. Its relative strength line is at new highs, triggering the blue dot on the IBD MarketSurge chart. That's a bullish indicator of market leadership. Shares gained 0.2% early Friday.
Music streaming leader Spotify has formed a double-bottom base with a 621.20 buy point. Spotify stock was up 0.2% Friday.
Finally, Guidewire is rapidly nearing a 201 buy point in a double bottom, with a 3.1% rise Thursday. Guidewire stock moved up 0.1% in early morning trades.
Keep in mind that now is not a good time to buy stocks amid heavy selling in recent weeks, but the outlook is brightening after two days of solid gains.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Wednesday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| McDonald's | 326.32 | Flat base | |
| Spotify | 621.20 | Cup with handle | |
| TJX | 127.58 | Double bottom | |
| Netflix | 998.70 | Double bottom |
Source: IBD Data as of April 22
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks are trying to rebound from lows as Wall Street reacts to the fallout of President Trump's tariffs. One of them, Dow Jones component Amazon, rose 0.1% early Friday, still leaving the stock sharply below its 200-day line.
IPhone maker Apple moved down 0.1% Friday morning. Shares closed Thursday at their highest level since early April.
Finally, software giant Microsoft lost 0.1% Friday. Shares are again attempting to surpass resistance at 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.
