The Dow Jones Industrial Average and other major stock indexes traded mixed Friday as Wall Street reacted to critical inflation data.
Nvidia extended its losses following Thursday's plunge below a key price level. Meanwhile, Duolingo and SoundHound AI were big earnings movers on the stock market today.
As the market kicked off February's final trading session, the Dow Jones Industrial Average traded up 0.5%, while the S&P 500 gained 0.2%. The tech-heavy Nasdaq composite pared losses to 0.1% in morning trades.
The 10-year Treasury yield ticked lower to 4.26% early Friday. And oil prices continued to lag, as West Texas Intermediate futures held below $70 per barrel.
Among exchange traded funds, the Invesco QQQ Trust dropped 0.1%, while the SPDR S&P 500 ETF rose 0.2% after the open.
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Nvidia Stock Plunged; Inflation Data
On Thursday, Nvidia plunged 8.5% in heavy volume after the company's earnings report. Shares broke down below their long-term 200-day moving average for the first time since Feb. 4. Nvidia stock lost another 1.6% Friday, closer to its early February lows.
Duolingo tumbled 16% early Friday even after the company beat Wall Street's targets for subscribers, total users and revenue in the fourth quarter. Three analysts ratcheted their price targets higher.
And SoundHound rallied almost 4% after beating Wall Street's targets for the fourth quarter and raised its outlook for full-year 2025.
Other big earnings movers Friday were Autodesk, Dell and NetApp. Autodesk shares fell 0.5% in morning trading, while Dell stock slipped 7%. NetApp shares dived 16%.
Out ahead of Friday's open was the Commerce Department's personal income and outlays report for January, which included the core PCE price index, the Federal Reserve's favored inflation indicator. The index rose 0.3% on the month, with an annual increase of 2.6%. Those matched Econoday estimates.
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Stock Market Today: Dow Jones Falls
On Thursday, the Dow Jones Industrial Average lost 0.5%, while other indexes suffered much larger losses. The S&P 500 sold off 1.6% and the Nasdaq composite tumbled 2.8%. The small-cap Russell 2000 index declined 1.6%.
For the month, the Nasdaq so far shows a 5.5% decline, tacking toward its biggest dip since September 2023. The S&P 500 is down 3%. The Dow industrials have slipped 2.9%.
Among the best companies to watch in the current stock market are Booking, Tradeweb Markets, Uber Technologies and Wells Fargo.
Along with Apple and Nvidia, Dow Jones components making notable moves Thursday were Amazon.com, Microsoft and Goldman Sachs.
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Dow Jones: Goldman Sachs At Buy Point
Dow Jones component Goldman Sachs is trying to find support around a flat base's 612.73 buy point, according to MarketSurge pattern recognition. Shares were up 0.4% Friday.
Outside the Dow, IBD Leaderboard name Wells Fargo is just below a cup base's 78.13 buy point amid a string of losses. Wells Fargo stock gained 0.6% early Friday.
Travel site Booking is building a cup with handle that has a 5,282 buy point. Shares rose 0.8% Friday.
Tradeweb Markets is tracing a flat base that has a 141.69 entry and, so far, firm support at its 50-day line. An early entry looms at 134.85, the high on Feb. 21. Shares were up 1.1% early Friday.
Finally, Uber has a handle entry at 82.10 following a recent pullback. The stock was Thursday's IBD Stock Of The Day. Uber stock dipped 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 |
|---|---|---|---|
| Booking | 5,282 | Cup with handle | |
| Goldman Sachs | 612.73 | Flat base | |
| Wells Fargo | 78.13 | Cup base | |
| 40.90 | Cup with handle |
Source: IBD Data as of Feb. 28
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Tesla Stock Reverses
Tesla skidded another 3% Thursday, extending a losing streak to six sessions. Shares are at their lowest level since Nov. 6 and are more than 42% off their 52-week high.
But Tesla stock gave up early gains to drop 0.8% in early morning trading Friday, trading right at the 200-day line.
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Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks have been under concerted pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon triggered a sell signal after falling below a 233 buy point last week. Amazon fell 0.3% early Friday.
Apple, which sold off 1.3% Thursday, is below the 50-day line. Shares are building the right side of a new base that offers a 260.10 entry and declined 0.3% in morning trades Friday.
Finally, software giant Microsoft moved down 0.4% Friday. Shares are sharply below their 50-day line and at their lowest level since early August.
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.
