The Dow Jones Industrial Average and the other major stock indexes dropped Friday in the wake of Thursday's powerful stock market gains. Three early movers on the stock market today were FedEx, Lennar and Nike.
After the opening bell, the Dow Jones Industrial Average moved down 0.3%, as the S&P 500 fell 0.4%. The tech-heavy Nasdaq composite dropped 0.3% in early trading.
Early Friday, the 10-year Treasury yield ticked lower to 3.73%. Oil prices dropped, with West Texas Intermediate futures trading around $70.70 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was down 0.3%, as the SPDR S&P 500 ETF moved down 0.4% after the open.
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Stock Market Today: Nike, FedEx, Lennar
Dow Jones retailer Nike jumped more than 6% after the company announced that Chief Executive John Donahoe will step down next month, and said longtime company veteran Elliott Hill will return to assume the CEO role.
FedEx stock plummeted more than 14% Friday after the company reported weaker-than-expected results for its fiscal first quarter and cut its full-year outlook.
Another key earnings mover is homebuilder Lennar, which tumbled more than 4% in morning trading.
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On Thursday, the Dow Jones Industrial Average rose 1.3% to close above 42,000 for the first time. The S&P 500 gained 1.7%, while the Nasdaq composite rallied 2.5%. The small-cap Russell 2000 index climbed 2.1%.
Thursday's rally was more evidence of stock market strength following Wednesday's hesitant action following the Federal Reserve's decision to cut interest rates by a half point.
During Thursday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market today.
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Stock Market Today: Best Stocks To Watch
Among the best companies to watch on the stock market today are Arista Networks, DoorDash and Spotify.
Notable Dow Jones components are Amazon.com, Apple, Home Depot, Microsoft and Visa.
Home Depot and DoorDash were featured in Investor's Business Daily's Stocks Near A Buy Zone column.
There were three new stocks on IBD MarketSurge's "Breaking Out Today" list Thursday during the stock market action. Notably, Taiwan Semiconductor topped a 175.45 cup-with-handle entry. And there is an increasing number of names on the site's "Near Pivot" list. To find more stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: Home Depot, Visa In Buy Zones
Dow Jones payments stock Visa is back below a 290.96 flat-base entry. Shares were down 0.2% Friday morning.
Further, Home Depot is in buy range past a handle buy point at 378.58, according to MarketSurge pattern recognition. Shares were down 0.4% early Friday.
Outside the Dow Jones index, Arista Networks is breaking out past a 376.50 buy point in a consolidation, according to IBD MarketSurge pattern recognition. The stock was on the MarketSurge Growth 250 Breaking Out Today list Thursday. Shares inched lower Friday morning.
DoorDash ended Thursday nearly out of buy range above a cup-with-handle's 131.21 buy point. Shares were up 1.1% early Friday.
Finally, Spotify shares are in buy range above a consolidation's 359.38 entry. The music streaming platform added 0.9% Friday.
Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day
Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today's stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | 442.80 | Flat base | |
| Taiwan Semiconductor | 175.45 | Cup with handle | |
| ServiceNow | 850.33 | Flat base | |
| Uber Technologies | 75.40 | Double bottom |
Source: IBD Data as of Sept. 10
Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live
Magnificent Seven Stocks: Alphabet, Meta, Nvidia, Tesla
Among Magnificent Seven stocks, Alphabet and Meta Platforms traded up 0.6% and 0.2%, respectively, Friday.
Google-parent Alphabet is back above its 200-day line as it rebounds. After extending a win streak to eight sessions Thursday, shares were approaching their 50-day line.
Fellow Magnificent Seven stock Meta is in buy range above a 544.23 alternate entry.
Among others in the group, Nvidia regained its 50-day line Thursday and added 0.1% Friday. And Tesla is in buy range above an early entry at 235, but fell 1.8% early Friday.
Dow Jones Leaders: Apple Eyes Buy Point
Among Dow Jones components in the Magnificent Seven, Amazon shares reclaimed their 50-day line during last week's rally. The stock was down 0.1% Friday.
Apple is close to a V-shaped cup with handle that shows a 232.92 entry. Shares rose 0.5% Friday morning.
Microsoft shares are also back above their 50-day line and building a new base. And on Friday morning, the stock was off 0.4%.
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.
