The major stock market indexes opened lower Friday as companies worldwide grappled with an outage in their computer operations. Netflix rose more than 3% in the stock market today following a mixed earnings report.
The Dow Jones Industrial Average dropped 0.5%, while the S&P 500 fell 0.2% and the Nasdaq composite eased 0.1%.
Early Friday, the 10-year Treasury yield rose to 4.23%. Oil prices eased, with West Texas Intermediate futures trading around $82.60 a barrel.
A software update from cybersecurity firm CrowdStrike early Friday triggered major computer outages worldwide. The problem disrupted operations for many airlines, banks and many other companies. CrowdStrike shares plummeted nearly 12% after the open, but found support at the 200-day moving average.
Stock Market Today: Netflix Earnings
Streaming giant Netflix beat Wall Street's estimates for the second quarter. Netflix stock wavered in extended trading on the company's soft revenue outlook but was up 1.8% after the market open.
Meanwhile, robotics leader Intuitive Surgical smashed Wall Street's second-quarter earnings forecasts. Shares rose nearly 9% at the open, reaching a record high. The stock bounced off support at the 10-week line.
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Dow Jones Reverses Lower
On Thursday, the Dow Jones Industrial Average declined 1.3%, reversing lower after posting another record high. The S&P 500 lost 0.8%, while the tech-heavy Nasdaq composite declined 0.7%. For the Nasdaq, it was the largest two-day decline since Oct. 25-26, 2023, per Dow Jones Market Data.
The small-cap Russell 2000 index dropped nearly 1.9%, as broad-based selling hit the stock market. All but one of the 11 sectors that comprise the S&P 500 traded lower; the energy sector was the sole winner.
During Thursday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market today.
Now is an important time to read The Big Picture column amid the ongoing stock market action. Also, be sure to read how to adjust to changing market conditions, with IBD's new exposure levels.
Learn How To Time The Stock Market With IBD's ETF Market Strategy
Stock Market Today: Best Stocks To Watch
Among the best companies to watch on the stock market today are AppFolio, NXP Semiconductors, Palantir Technologies and Toast.
New names on IBD MarketSurge's "Breaking Out Today" list were absent Thursday during the stock market weakness. Check out the MarketSurge "Near Pivot" list for stocks nearing buy points in bases. To find more stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Dow Jones: American Express, Goldman Sachs
Among Dow components, payments giant American Express fell more than 3% and is slightly below a flat base's 244.41 entry, according to MarketSurge pattern recognition. The stock broke out earlier this week. And Goldman Sachs is back in buy range on the stock market today above a 471.48 flat-base entry.
Outside the Dow Jones index, AppFolio is in buy range above a flat base's 256.73 entry. Shares were down 0.5% Friday.
Chip stock NXP Semiconductors fell back below a 286.87 buy point in a flat base, with a 5% drop Thursday. NXP stock fell 1% early Friday.
Palantir Technologies remains above a 27.50 entry and in buy range. In recent weeks, the stock broke out past a 26.57 handle buy trigger. Palantir was little changed Friday.
And Toast is holding just above a 26.29 buy point in a cup with handle.
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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 |
|---|---|---|---|
| Toast | 26.29 | Cup with handle | |
| KB Home | 74.66 | Flat base | |
| Palantir | 26.57 | Handle entry | |
| NXP Semiconductors | 286.87 | Flat base |
Source: IBD Data as of July 17
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Magnificent Seven Stocks: Nvidia, Tesla
Elsewhere, Magnificent Seven stocks Nvidia and Tesla fell 0.2% on the stock market today.
Nvidia shares rose 2.6% Thursday, just above the 50-day line, a key support level to watch. Shares remain sharply above a split-adjusted alternative buy point at 97.40. The artificial intelligence titan is an IBD Leaderboard stock.
Meanwhile, Tesla gained 0.3% Thursday. Shares have jumped more than 40% since mid-June.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon and Microsoft were 0.6% lower and were among the companies most affected by the CrowdStrike outage.
Amazon gave up its 191.70 buy point in a flat base amid recent losses and fell below its 50-day line Thursday.
Microsoft shares slipped 0.7% Thursday, in buy range above a flat base's 430.82 buy point as it tries to find support around the 50-day line.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter, at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
