The Dow Jones Industrial Average and other major indexes traded higher, as investors reacted to stronger-than expected housing and industrial data ahead of the market open Friday. Meanwhile, Apple, Nvidia and Tesla were early winners on the stock market today after posting sharp losses in the previous session.
After the opening bell, the Dow Jones Industrial Average rose 0.8%, while the S&P 500 gained 0.9%. The tech-heavy Nasdaq composite rallied 1.4% in morning trades.
The 10-year Treasury yield ticked lower to 4.57% early Friday, on pace to end the week with sharp losses. And oil prices dipped, with West Texas Intermediate futures trading around $78.62 per barrel.
Among exchange traded funds, the Invesco QQQ Trust rose 1.4%, and the SPDR S&P 500 ETF gained 0.9% after the open.
Shares of Apple plunged 4% Thursday to their lowest level since mid-November. This week, they tumbled decisively below their 10-week line, a key sign of weakness. But they rebounded 1.1% early Friday.
Nvidia bounced 2.7% Friday morning, erasing Thursday's 2% decline. Shares are seeing stout resistance at their 50-day moving average, a key level to watch.
Electric-vehicle giant Tesla skidded more than 4% Thursday. Shares appear to be finding support around their 10-week line, and they may be forming a new base. Tesla stock moved up 3% Friday.
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Stock Market Today: Economic Data
In economic news, the Commerce Department's housing starts and permits handily topped estimates. December starts rose to a rate of 1.499 million, above the expected 1.32 million reading. And permits climbed to 1.483 million, above the 1.458 million estimate, according to Econoday.
The Federal Reserve's industrial production report showed that production climbed 0.9% in December, above the 0.3% estimate, with an increase of 0.6% for manufacturing, above the 0.4% Econoday estimate.
In stocks, Fastenal, Regions Financial, SLB and State Street were key earnings movers Friday morning.
Fastenal shares dropped 0.5% in morning trading, while Regions stock inched higher. SLB jumped 1.3%, as State Street sold off 4.6% in early morning trade.
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Dow Jones, Indexes Ease
On Thursday, the Dow Jones Industrial Average fell nearly 0.2%, while the S&P 500 lost 0.2% and the Nasdaq declined 0.9%. Following this week's 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 Howmet Aerospace, Interactive Brokers, Meta Platforms and Spotify.
Along with Apple, Dow Jones components making notable moves were Amazon.com, 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.
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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. But it must first find support at the 50-day line. Shares edged higher Friday.
Outside the Dow Jones index, Howmet Aerospace is breaking out and in buy range above a 120.71 buy point in a flat base. Shares added 0.3% Friday.
Interactive Brokers is just below a cup-with-handle base's 193.41 entry. The stock was up 0.1% Friday.
Social media platform Meta remains above its 602.95 buy point, as shares again find support around their 50-day moving average. But Meta stock rose 1.8% in Friday's trading.
And Spotify is just shy of a flat base's 506.47 buy point following this week's bullish move. Spotify stock boasts the RS Line Blue Dot from IBD. That confirms the music streaming giant as a market leader. Shares declined 0.7% Friday morning.
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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 |
|---|---|---|---|
| Interactive Brokers | 193.42 | Cup base | |
| American Express | 307.82 | Flat base | |
| Intuitive Surgical | 556.23 | Flat base | |
| Meta Platforms | 602.95 | Flat base |
Source: IBD Data as of Jan. 13
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Dow Jones Leaders: Amazon, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which dropped 1.2% Thursday to hold above support at the 50-day line. That's a new buying opportunity for the e-commerce giant. It added 1.5% Friday.
Microsoft shares gained 1.1% Friday morning, as they continue to consolidate 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.
