Indexes closed mostly higher Friday, recouping some of Thursday's sell-off. The Nasdaq gained for the fifth straight week, although the S&P 500 and the Dow Jones saw weekly losses. Microsoft neared a buy point as eBay broke out.
The Dow Jones Industrial Average gave up earlier gains and closed flat in the stock market today. The S&P 500 rose 0.7% while the Nasdaq led with a gain of 1.1%. All S&P sectors except health care were higher for the day.
For the week, the tech-dominated Nasdaq gained 1.4% and hit a record high just a little below 17,000, while the S&P 500 was almost unchanged. It broke a four-week win streak. The Dow lost 2.4%. The index finished below the key 40,000 level after briefly trading above it earlier in the week.
Advancers led on both exchanges: by 2-to-1 on the NYSE and 5-to-3 on the Nasdaq. Volume on the NYSE and on the Nasdaq was lower compared with the same time on Thursday.
The small-cap Russell 2000 rebounded from the 50-day moving average with a 0.9% gain.
The Innovator IBD 50 broke out at a buy point of 28.35 in the stock market today and remained just above it.
The yield on the benchmark 10-year Treasury note was unchanged at 4.46%.
In economic news, durable goods orders rose 0.7% in April. Economists polled by Econoday had expected a decline of 0.5%. For May, the University of Michigan's consumer sentiment index also came in above views of 67.4, at 69.1.
Dow Jones Stocks
Salesforce was the worst performer in the Dow industrials, down 2.2%. The company will report its first quarter results on Wednesday.
Other tech leaders in the Dow did well. Intel gained 2%, while Apple held a 1.7% increase.
Microsoft neared a buy point of 430.82, according to IBD MarketSurge.
Rally Narrows But Keeps Rising; 7 Stocks Near Buy Points
Stocks Market Today
EBay broke out at a buy point of 52.93. The buy zone goes to 55.58. The relative strength line is near highs, and volume was tracking well above average.
Among earnings movers, Workday gapped down 15% and fell below the 50-day moving average. First quarter sales and earnings came in above estimates, while guidance for the current quarter missed expectations. Shares triggered a sell signal with the sharp break of the 50-day and 200-day lines.
Intuit also broke below the 50-day line, falling more than 8% after releasing fiscal third-quarter results. Shares are at risk of undercutting a base and falling below the 200-day line as well.
In commercial consulting services, Booz Allen Hamilton rose 4% after fourth-quarter sales and earnings exceeded expectations. Retailer Ross Stores gapped up above the 50-day line in heavy volume after bullish first quarter results.
Deckers Outdoor broke out at a buy point of 956.17 after strong fourth-quarter results. The Hoka sneakers maker was the best performer in the IBD 50.
In health care, Guardant Health rose 13.4% and closed back above the 200-day moving average after the FDA approved a blood-based test for colon cancer.
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