The Dow Jones Industrial Average rose Friday, as Wall Street awaited consumer confidence numbers, which will include inflation expectations. An early earnings loser on the stock market today was Adobe, while Nvidia bullishly regained a key level Thursday.
After the opening bell, the Dow Jones Industrial Average rose 0.5%, as the S&P 500 gained 0.4%. The tech-focused Nasdaq composite moved up 0.3% in early trading. (For the latest coverage of the market, visit our Stock Market Today page.)
Early Friday, the 10-year Treasury yield ticked lower to 3.65%. Oil prices extended their rebound off Tuesday's lows, rising 1.3% to lift West Texas Intermediate futures to around $69.90 per barrel.
Among exchange traded funds, the Invesco QQQ Trust was up 0.3%, as the SPDR S&P 500 ETF moved up 0.4% after the open.
Early Friday, Nvidia inched lower, still looking to move further above its 50-day moving average, a key level to watch. Shares regained that level during Thursday's 1.9% gain, which is bullish for the stock's immediate prospects. If the stock gives up that level immediately, then that likely means the artificial intelligence giant needs more time to consolidate.
Apple Seeks Support As Netflix Tries To Stop Buffering And Break Out
Stock Market Today: Inflation Survey
Due out at 10 a.m. ET, the University of Michigan's consumer sentiment survey is expected to show the index rose to 68.0 in September, up from August's 67.9 reading. Included in the survey are inflation expectations for the year ahead. Last month, the survey showed one-year inflation expectations at 2.8%. The numbers are not likely to have much influence over Friday's market action.
Early Friday, Adobe dived nearly 10% after the company beat Wall Street's targets for its fiscal third quarter, but its guidance for the current period missed estimates.
Further, RH soared more than 20% in morning trading after the company's second-quarter results turned the corner after years of declines, with an outlook for triple-digit earnings gains.
Nvidia, Apple And Tesla Highlight How To Handle This Market
On Thursday, the Dow Jones Industrial Average rose 0.6% and the S&P 500 gained nearly 0.8%, while the tech-heavy Nasdaq composite advanced 1%. The small-cap Russell 2000 index rallied 1.2%.
During Thursday's IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market today.
Apple Still Headlines This Magnificent Show Over Microsoft, Nvidia
Stock Market Today: Best Stocks To Watch
Among the best companies to watch on the stock market today are Costco Wholesale, DoorDash, Netflix, Taiwan Semiconductor Manufacturing and Uber Technologies.
Notable Dow Jones components are Amazon.com, Apple, Home Depot and Microsoft briefly topped a 224.71 buy point before reversing lower. 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.
Keep Trying, Nvidia, But These 21 Stocks Are Already 'Perfect'
Dow Jones: Home Depot Nears Buy Point
Among Dow Jones components, Home Depot is approaching a new handle buy point at 378.58, according to MarketSurge pattern recognition. Shares were up 0.6% early Friday.
Outside the Dow Jones index, retail giant Costco bullishly reclaimed a 896.67 cup-base entry, with a 1.6% gain Thursday. The stock edged down Friday morning.
DoorDash ended Thursday within striking distance of a cup-with-handle's 131.21 buy point. Shares added 1% early Friday.
Streaming giant Netflix remains just below its late-stage cup base's 697.49 buy point despite a two-day rally. Netflix stock was down 0.5% Friday.
And Taiwan Semiconductor Manufacturing is nearing a cup-with-handle's 175.45 entry, and it climbed another 0.9% Friday morning.
Finally, Uber stock is about 5% away from a 75.40 double-bottom entry. Uber shares jumped 5% early 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: Tesla, Alphabet
Among Magnificent Seven stocks, Alphabet and Tesla traded higher in early trading.
Google parent Alphabet gave up support around the 200-day line in recent sessions, but is now rebounding. After extending their gains Thursday, shares tacked on another 0.9% in early trades Friday.
And Tesla rose 1% Friday morning, looking to add to a four-day win streak. Shares of the electric-vehicle leader are moving further above their 50-day line.
Dow Jones Leaders: Apple Eyes Buy Point
Among Dow Jones components in the Magnificent Seven, Amazon, Apple and Microsoft traded mostly higher after Friday's stock market open.
Amazon shares reclaimed their 50-day line during this week's rally. The stock was up 0.7% Friday morning.
Apple stock is forming a V-shaped cup with handle that has a 232.92 buy point. Shares inched lower early Friday.
Microsoft shares are also trying to overcome resistance at their 50-day line. And on Friday morning, the stock rose 0.1%.
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.
