The Dow Jones Industrial Average and other major stock indexes traded higher Friday as Wall Street cheered the likelihood of an averted government shutdown. Among the winners was Ulta Beauty, which moved up on earnings, while Tesla and Nvidia both gained as well.
Early Friday, the Dow Jones Industrial Average briefly rose 1%, or more than 400 points, before paring gains, while the S&P 500 climbed 1.1%. The tech-heavy Nasdaq composite rallied 1.5% in morning trades.
The 10-year Treasury yield ticked higher to 4.31% early Friday. And oil prices rose, as West Texas Intermediate futures traded near $67.20 per barrel.
Among exchange traded funds, the Invesco QQQ Trust advanced 1.7%, while the SPDR S&P 500 ETF rose 1.2% after the open.
Tesla stock skidded 3% on Thursday, snapping a two-day rally. Shares remain more than 50% off their record high of 488.54, reached on Dec. 18. Tesla stock rallied 0.7% in morning trading Friday.
Further, Nvidia inched lower Thursday, and is sharply below its 50-day and 200-day moving averages and around 25% off its 52-week high. Nvidia stock jumped 3.6% in early trading Friday.
Snag The Next Palantir Or Hot IPO In 2025. Here's How.
Schumer Comments, Consumer Sentiment Report
Late Thursday, Senate Minority Leader Chuck Schumer dropped his threat to block a GOP spending bill. That makes a government shutdown unlikely. Government funding was due to expire at midnight Friday.
Elsewhere, the University of Michigan's consumer survey is due at 10 a.m. ET. Consumer sentiment, which tumbled in February due to tariff fears, is expected to fall to 64.0 vs. 64.7 in the previous month. Included in the survey are inflation expectations for the year ahead.
Ulta Beauty jumped 9% after the company beat Wall Street's top- and bottom-line estimates, but issued a weak outlook for the full year.
Other earnings movers Friday included DocuSign and Rubrik. DocuSign shares surged 10%, while Rubrik stock soared nearly 22% in morning action.
Microsoft Shames Nvidia While Tesla Retains Its Dignity
Stock Market Today: Dow Jones Extends Losing Streak
On Thursday, the Dow Jones Industrial Average lost 1.3%, extending a losing streak to four sessions. The S&P 500 sold off 1.4%, falling 10% from its record high in February. That's the technical definition of a correction. The Nasdaq composite tumbled 2%, about 14% off its record high. And the small-cap Russell 2000 declined 1.6%, approaching bear market territory, as that index is down nearly 19% from its high.
Amid the ongoing stock market weakness, now is an important time to read IBD's The Big Picture column for the updated exposure level.
Among the best companies to watch in the current stock market are Aon, Tradeweb Markets and Uber Technologies.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and McDonald's.
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.
It's Not Time To Buy. But These Stocks Flash 'Watch Me' Signs.
Dow Jones: McDonald's Gives Up Buy Point
Dow Jones component McDonald's dropped further below its cup-with-handle's 311.59 buy point, according to MarketSurge pattern recognition, with a fractional decline Thursday. Shares are fighting for support at their 50-day line, as they fell 0.2% Friday.
Outside the Dow, Tradeweb Markets is tracing a cup with handle that has a 140.48 entry and is seeing firm support at its 50-day line so far. Meanwhile, the RS line triggered the blue dot, which is a sign of strong stock market outperformance. Shares added 0.6% Friday.
Uber has a handle entry at 82.10 and shares are looking for much-needed support at their 50-day line amid the ongoing pullback. The stock was a recent IBD Stock Of The Day. Uber stock climbed 1.7% Friday.
Finally, IBD Leaderboard stock Aon is pulling back to a 395.33 buy point in a cup base following a recent breakout move. Its RS line hit a new high this week. Shares rose 0.1% Friday.
Nvidia, Palantir, Google Highlight Vicious Volatility. Now What?
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 |
|---|---|---|---|
| Uber Technologies | 82.10 | Cup with handle | |
| McDonald's | 311.59 | Cup with handle | |
| Veeva Systems | 258.93 | Cup base | |
| Tradeweb Markets | 140.48 | Cup with handle |
Source: IBD Data as of March 11
In Rotten Market, Top Funds Harvest Apple Stock — And 10 Others
Dow Jones Leaders: Amazon, Apple, Microsoft
Magnificent Seven stocks continue to face heavy selling pressure as investors rotate out into fresh sectors or defensive names. Dow Jones component Amazon is below its 200-day line following big losses in recent weeks. Amazon moved up 1.9% early Friday.
Apple, which took a fourth-straight dive Thursday, tumbled further below its 200-day line in the process. Apple stock gained 1.5% in morning trades Friday.
Finally, software giant Microsoft rose 0.7% Friday. Shares hit a new 52-week low this week.
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.
