The Dow Jones Industrial Average closed with a modest gain Friday, extending its weekly win streak to seven. Boeing and Intel were strong gainers in the Dow Jones, while Verizon, Johnson & Johnson and McDonald's showed losses of around 1%.
BA stock ended 3% higher, helped by positive comments from UBS, which maintained a buy rating and lifted Boeing's price target to 315 from 275.
Intel, meanwhile, marked its third straight gain after the company on Thursday launched an AI chip to compete with Advanced Micro Devices and Nvidia.
E-signature firm DocuSign soared more than 12% after the Wall Street Journal reported the company is exploring a sale.
Outside The Dow Jones
The S&P 500 closed flat and the Nasdaq composite rallied nearly 0.4%. The Nasdaq and S&P 500 also extended their weekly win streaks to seven. But including the Dow Jones, all three main indexes are quite extended after big price runs. That raises the probability of a pullback, so taking some gains in some of your big winners is sound strategy at this point.
The iShares Russell 2000 ETF slid 0.8% after soaring 2.7% Thursday and 3.5% on Wednesday. IWM closed with a weekly gain of 5.5%
All in all, it was an orderly performance for the stock market on a quadruple-witching Friday where stock options, index futures, option derivative contracts and single stock futures expired at the close. The Nasdaq 100 and S&P also went through some modest rebalancing.
A few Magnificent Seven stocks outperformed, with Nvidia, Amazon.com and Microsoft closing with gains of 1.1% to 1.7%.
Earnings Preview: Wall Street Awaits Results From Micron, FedEx
Losers outnumbered winners on the Nasdaq by less than 2-to-1. The ratio was nearly 2-to-1 negative on the NYSE.
The 10-year Treasury yield eased 2 basis points to around 3.92%. Bond yields plunged this week after the Federal Reserve at the conclusion of its two-day meeting Wednesday signaled three interest-rate cuts next year.
U.S. crude oil futures settled at $71.43 a barrel, down 0.2%. Oil marked its first weekly gain in eight weeks. Chevron lagged in the Dow Jones today, down 0.4%
Growth Stocks On The Move
Leading retailer Costco was one of the top gainers in the MarketSmith Growth 250, up more than 4% to an all-time high. A strong earnings report was the catalyst.
Leading security software stocks also outperformed, with names like CrowdStrike, Zscaler and SentinelOne up more than 2%.
Payment processor Shift4Payments rallied 4% after the stock gave back a sizable gain Thursday. A report from Bloomberg said that Global Payments was in talks to acquire FOUR, but GPN denied the report. Global Payments slid back below a 129.69 buy point.
Homebuilders held up relatively well despite an earnings sell-off for Lennar. LEN stock slumped more than 3%, but IBD's homebuilder industry group eased just over 1%. The group still rallied more than 5% for the week.
Dow Jones stock Salesforce.com also outperformed. CRM stock is holding gains well after gapping up sharply Nov. 30 on strong earnings.
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