Dow Jones futures fell slightly early Friday, along with S&P 500 futures and Nasdaq futures. Warren Buffett stock Berkshire Hathaway looks to extend its win streak. Micron Technology, FedEx, Nike and Nio are earnings losers.
The stock market is still looking for a follow-through day to confirm its rally attempt. Friday's quarterly triple witching of futures and options expirations could add significant volume and volatility, especially at the close. Some $4.5 trillion worth of options contracts are due to expire.
Micron stock fell modestly despite the memory chip giant's strong results and guidance. FedEx and Nike tumbled on weak guidance. China EV giant Nio skidded after missing views and giving a weak outlook. All are below their key moving averages.
Dow Jones Futures Today
Dow Jones futures fell 0.3% vs. fair value. S&P 500 futures declined 0.3% and Nasdaq 100 futures gave up 0.4%. Micron stock, FedEx and Nike are all S&P 500 components, with NKE stock also a Dow Jones stock.
The 10-year Treasury yield dipped to 4.21% after declining two basis points to 4.23% on Thursday.
Crude oil prices edged lower after Thursday's 1.6% gain to $68.26 a barrel.
Remember that premarket action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze leading stocks and the market on IBD Live
Stock Market Thursday
The Dow Jones Industrial Average edged lower in Thursday's stock market trading after topping the 200-day line intraday for a second straight session. The S&P 500 index dipped 0.2%. The Nasdaq composite fell 0.3%. The small-cap Russell 2000 retreated 0.65%.
Through Thursday, the Dow Jones has risen 1.1%, the S&P 500 0.4% and the Russell 2000 1.2%. The Nasdaq has lost 0.35%.
The market has rallied the past three Fridays, but in the context of big weekly losses.
Warren Buffett Stock Berkshire Hathaway
Berkshire stock rose a fraction early Friday. The Warren Buffett stock has risen for six straight sessions, clearing a buy zone and an alternative entry.
The relative strength line for BRKB stock has been soaring in the past two months, hitting a record high. That follows a long-term trend of sideways action for the RS line, as Warren Buffett stock largely tracked the S&P 500.
Berkshire is an insurance-led conglomerate with more than $300 billion in cash. It's a good mix for the current market.
Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.
Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.
