The Dow Jones Industrial Average, S&P 500 and Nasdaq composite closed near session highs to cap a volatile session Friday.
Buyers emerged in force in the final hour of trading. The Nasdaq rallied into the close, rising 1.6%. Notably, the index bounced off support at its 200-day moving average after dropping to the line earlier in the session.
The Dow Jones industrials jumped 1.4%. The S&P 500 also rallied late and closed 1.6% higher. The Russell 2000 climbed 1.1% and also surged late.
Advancers topped decliners on the Nasdaq by a 6-5 ratio and by 9-to-5 on the NYSE, according to FactSet. Volume rose on the Nasdaq and NYSE, according to early data.
The Innovator IBD 50 ETF reversed higher 1.4% and closed above its 200-day line after dipping below it earlier today.
The 10-year Treasury yield lost about six basis points to around 4.228%. The latest reading on inflation didn't reveal any big surprises.
Stocks temporarily slid after tensions grew during a meeting between President Donald Trump and Ukraine President Volodymyr Zelenskyy. The televised White House meeting caught viewers' attention when voices started to rise between Trump, Vice President JD Vance and Zelenskyy in discussions about the Russia-Ukraine war and U.S. support.
3:26 p.m. ET
Stock Market Today: Warren Buffett Stock Rallies
IBD 50 name Root jumped 11% to near a new high in heavy trading, on top of Thursday's 25.5% gain. Shares are extended from the buy zone of a cup base with a 113.22 buy point despite a sell signal that followed the breakout. The auto insurance provider reported a surprise fourth-quarter profit when analysts were expecting a loss. Its sales grew 68%.
Warren Buffett's Berkshire Hathaway climbed 1.2% and reached a record high Friday. The stock is in a buy zone of a cup-without-handle base up to 516.25, according to MarketSurge pattern recognition. Shares broke out Monday on the heels of the company's robust fourth-quarter earnings report Saturday.
2 p.m. ET
NetApp Dives After Earnings
NetApp cratered 16.8% in heavy volume on top of Thursday's 5% drop. The data storage provider missed fiscal third-quarter sales estimates and gave fiscal 2025 profit guidance below views. The stock fell further below its 50-day line, triggering a sell signal. NetApp was the biggest loser on the S&P 500 on the stock market today.
Autodesk dropped 4.4% and fell below the bottom of an irregular base with an official 326.62 buy point and early entry at 317.05. Shares found support at the 200-day line, however.
The engineering software developer topped fourth-quarter profit estimates with a slight beat on sales. Its first-quarter and full-year revenue guidance came up a little light. The company plans to slice 9% of its workforce and cut costs as part of a restructuring plan.
12:11 p.m. ET
Stocks On The Move
3M, Goldman Sachs and American Express outperformed in the Dow Jones today with gains of more than 1%.
3M is now extended after a solid test of its 10-week moving average. The stock is also 9% above its latest entry at 141.34.
Palantir Technologies pared a 7% opening loss to just over 2%. But it's still damaged goods after closing below its 50-day moving average Thursday. When fund managers start taking profits in leading growth stocks like Palantir, it can take several months for them to recover.
Inside the MarketSurge Growth 250, small-cap Panama-based bank Banco Latinoamericano de Comercio Exterior soared out of a flat base with a 39.40 buy point. Shares of the thinly traded stock jumped 9% despite news that Q4 earnings and revenue growth decelerated from Q3. The company raised its quarterly dividend to 62.5 cents a share from 50 cents.
China-based hotel operator Atour Lifestyle, also an IBD Sector Leader, reversed higher for a gain of 4%. It's back in a buy zone from a 29.90 buy point, although the stock is known for volatile price swings.
Dave, which operates a popular mobile banking app, reversed higher above its 50-day line. After a sharp pullback, Dave is trying to reclaim a 108.50 buy point ahead of next week's earnings report.
Among the S&P 500's 11 sectors, the Financial Select Sector SPDR ETF was the top gainer, up around 0.7%.
10:31 a.m. ET
Nvidia Climbs But Still Damaged
Nvidia reversed higher in the Dow Jones today after Thursday's earnings sell-off. The stock could still be ready to test its Feb. 3 low near 113. Nvidia might look like it's on sale now, but it's also an example of a stock that's been hit hard by institutional selling.
AI Chip Giant Broadcom Headlines Latest Earnings Calendar
Buying a stock when fund managers are unwinding positions is an easy way to lose money. Avoid the pitfall of staying married to a former stock market leader like Nvidia. It's showing classic topping action after an initial breakout in late May 2023. The stock's Accumulation/Distribution Rating of E is the worst possible, hurt by several higher-volume declines since January. Nvidia's price action in recent weeks action raises the likelihood that the former leader could be ready for a long period of sideways movement.
Inside the Nasdaq 100, Marvell Technology and Ross Stores rallied, with both firms set to report earnings next week. Marvell, up 4%, is finding support at its 200-day moving average after a sharp pullback. Ross Stores gapped below its 200-day line on Feb. 7. It's up 1.3% this morning.
Stock Market Today: PCE Comes In Tame
January personal income jumped 0.9% month over month, well above the 0.3% consensus. But one of the Federal Reserve's preferred inflation gauges — the personal consumption expenditures index — came in mostly in line with expectations. On a year-over-year basis, core PCE increased 2.6%, and was below December's reading of 2.9%.
In the retail sector, Walmart climbed 1% in the Dow Jones today. The stock pulled back sharply last week and fell below its 50-day moving average. But it's back above the line this week and also back in a buy zone from a 96.18 entry. Walmart held up well Thursday despite stiff selling in the broad market.
Find The Best Long-Term Investments With IBD Long-Term Leaders
3M also rose more than 1% in the stock market today. The stock reversed bullishly higher Wednesday and is still in a buy zone after a solid test of its 10-week moving average.
Gold And Oil Pressured
West Texas Intermediate crude oil futures were down more than 1% to around $69.50 a barrel. April gold gave back 1.5% to around $2,850 an ounce. Agnico Eagles Mines, gapped below Tuesday's low as it fades back toward its 89 entry. Agnico joined the Leaderboard model portfolio on Jan. 21 at 87.90.
The stock market remains in a significant distribution phase, hampered by several big declines in higher volume for the Nasdaq composite in recent weeks. Investors have been buying bonds, sending the 10-year Treasury yield sharply lower in recent days.
The stock market — and bond investors for that matter — seem to be worried about what effect tariffs will have on the U.S. economy as the stock market looks toward the second half of the year.
After a nasty downside reversal Thursday in heavy volume, former leader Duolingo crashed as much as 20% after reporting fourth-quarter earnings, though it recovered part of that in late morning trading.
Follow Ken Shreve on X @IBD_KShreve for more stock market analysis and insight. And follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
