The Dow Jones Industrial Average finished in negative territory Friday afternoon as major indexes wrapped up substantial gains for the week. The Nasdaq benefited from a strong earnings report from Google-parent Alphabet, while Nvidia helped the Dow Jones Industrial Average tiptoe into positive ground on the stock market today.
The Dow Jones wavered through much of afternoon action but ultimately edged higher at the closing bell. Strong gains from blue chips Nvidia, Merck and Salesforce offset declines for fellow Dow components Verizon, UnitedHealth Group and Nike.
The S&P 500 and the Nasdaq composite also ended higher. The S&P 500 climbed 0.7% and the Nasdaq rose 1.3%.
For the week, the Nasdaq surged 6.7%, while the S&P 500 finished the week 4.6% higher. The Dow held a more modest 2.5% gain.
On Friday, small caps lagged but the Russell 2000 managed to eke out a minuscule increase. The yield on the benchmark 10-year Treasury note fell five basis points to 4.26%.
Volume was lower on the New York Stock Exchange as well as the Nasdaq exchange compared with the same time Thursday. Breadth improved in the afternoon, however, as advancers strode past decliners to post a slight advantage on both exchanges.
In stocks, Spotify broke out of a double bottom at a buy point of 621.20.
Among the S&P 500's 11 sectors, materials and financials lagged. Growth sectors such as technology, communication services and consumer discretionary gained.
2:02 p.m. ET
Apple Plans To Build IPhones In India
Another Dow stock, Apple, pared a premarket loss after the company said it plans to source all iPhones for the U.S from India as early as the end of 2026. Shares ventured onto positive ground.
Elsewhere, Meta Platforms and Amazon cleared their 21-day moving averages with afternoon gains. Both, however, remain below their 50-day and 200-day lines.
Tesla and Microsoft, however, were reclaiming their 50-day moving averages after cutting above the 21-day line earlier this week. The Nasdaq got help from a spike from Tesla. Note that Tesla is approaching its 200-day moving average, which is a potential resistance level to watch.
Among Investor's Business Daily's 197 industry groups, telecom-wireless services outperformed, thanks to strong action from Charter Communications which gapped up past its 50-day moving average on earnings.
12:33 p.m. ET
Stock Market Today: More Tariff Talk
Bloomberg reported that China is considering waiving its 125% tariff on some U.S. goods. Meanwhile, Axios reported that in an interview earlier this week with Time Magazine, President Donald Trump said that China President Xi Jinping called him about tariffs.
Earlier Friday, Trump said he's spoken with Xi "multiple times." But China officials have consistently denied that any talks were taking place. In the Time interview, Trump also said he would "consider it a total victory" if the U.S. still has 50% tariffs in a year.
Insurance Stocks Hit After Aon Plunges
Several insurance stocks lagged in the S&P 500, hurt by an earnings sell-off for Ireland-based Aon. Erie Indemnity, Brown & Brown and Arthur J. Gallagher also lagged in the S&P 500.
Several growth stocks in the MarketSurge Growth 250 moved well again, including Encompass Health, which gapped up more than 11% to an all-time high. A strong earnings report was the catalyst. Encompass is a provider of inpatient rehabilitative services.
Meanwhile, one day after joining the Leaderboard model portfolio, Loar shot up more than 5% and is now past the 5% buy zone from a 90.79 handle entry.
In the security software group, Zscaler rallied more than 2% and is closing in quickly on a 216.39 entry. Group peer CrowdStrike joined the Leaderboard Thursday when it cleared a cup-with-handle base with a 400.02 buy point.
In economic news, the latest reading from the University of Michigan consumer sentiment survey came in at 52.2 vs. the 50.5 expectation from economists. The year-ahead inflation expectations component came in at 6.5% vs. the 6.7% forecast.
The nascent stock market uptrend continues to show signs of strength after follow-through days for the Nasdaq composite and S&P 500 on Tuesday. But both indexes are still below their 50-day lines, which are potential resistance levels to watch.
Earnings Wave Due; These 7 Stocks Are Near Buy Points
10:45 a.m. ET
Stock Market Today: Google Parent Lifted By Search Ads
Alphabet is battling near its 50-day moving average as shares were up nearly 3%. Earnings were helped by strength in search advertising, while Google Cloud and YouTube revenue was mostly in line.
Alphabet gapped above its 50-day moving average, but the stock's 200-day line, currently around 172, is a potential resistance level to watch.
See Which Stocks Are In The Leaderboard Model Portfolio
Meanwhile, China-based Tesla rival BYD, up more than 12% so far this week, ticked higher on the stock market today. BYD reported net income that doubled vs. a year earlier. Revenue growth slightly missed but still jumped 36%.
Earnings from T-Mobile USA were also in focus. T-Mobile was only 5% from its all-time high headed into Thursday, but the stock gapped below the 250 level, marring its technical picture, on disappointing wireless subscriber growth. T-Mobile is now testing its April 9 low.
Gold Stocks Down But Not Out
Leaderboard stock Agnico Eagle Mines held up relatively well after Canada's largest gold producer reported its third straight quarter of triple-digit earnings growth. Agnico is still holding comfortably above its 21-day exponential moving average.
But Harmony Gold Mining, Gold Fields and Newmont were down between 2% and 5% on the stock market today. Gold futures were down 2%, just below $3,300 an ounce.
Charles Schwab worked its way close to an 81.24 buy point. Shares were up more than 1%, helped by a Goldman Sachs upgrade to buy from neutral.
Follow Ken Shreve on X @IBD_KShreve for more stock market analysis and insight.
