The Dow Jones Industrial Average dipped Friday, while the other major stock indexes rose, as Wall Street awaited speeches from Federal Reserve officials. An early earnings winner on the stock market today was Netflix (NFLX), which topped profit views.
Ahead of the opening bell, Dow Jones futures fell 0.2% vs. fair value, as S&P 500 futures gained 0.2%. Tech-heavy Nasdaq 100 futures moved up 0.5% in early trading.
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Early Friday, the 10-year Treasury yield ticked higher to 4.1%. Oil prices dropped modestly, with West Texas Intermediate futures trading around $69.80 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) was up 0.5%, while the SPDR S&P 500 ETF (SPY) added 0.2% ahead of the open.
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Stock Market Today: Netflix Earnings
Netflix surged 5% Friday morning after the company easily beat Wall Street’s targets for the third quarter and guided above views for the current period. Shares are set to rebound decisively from their 50-day moving average, which would place the stock in a new buy area.
Other earnings movers Friday morning include Intuitive Surgical (ISRG) and Procter & Gamble (PG). Intuitive Surgical shares rallied more than 6%, while P&G declined 1.6% in premarket action.
Throughout Friday, there are a number of Fed speeches lined up for Wall Street to digest, including Fed bank presidents Raphael Bostic and Neel Kashkari, along with Fed Governor Christopher Waller. Investors will be looking for further clues into the thoughts of Chairman Jerome Powell and other central bankers on the future path of interest rates.
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Best Stocks To Watch
On Thursday, the Dow Jones Industrial Average climbed 0.4% and held most of the day’s gains, reaching another record closing high. The S&P 500 ended one point lower after giving up moderate gains.
The Nasdaq composite closed less than 0.1% higher after being up nearly 1% earlier in the session. The small-cap Russell 2000 index declined nearly 0.3% to end a four-day win streak.
During Thursday’s IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the stock market action.
Among the best companies to watch on the stock market today are Ryan Specialty (RYAN), Texas Roadhouse (TXRH), Toast (TOST) and Uber Technologies (UBER).
Notable Dow Jones components are Amazon.com (AMZN), Apple (AAPL), JPMorgan Chase (JPM) and Microsoft (MSFT).
Uber and JPMorgan were featured in this week’s Stocks Near A Buy Zone column.
There were two new stocks on IBD MarketSurge‘s “Breaking Out Today” list Thursday. Notably, HealthEquity (HQY) topped an 88.26 entry. Check for more names on the site’s “Near Pivot” list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones: JPMorgan Nears Buy Point
Dow Jones financial leader JPMorgan closed within striking distance of a flat base’s 225.48 buy point, according to MarketSurge pattern recognition. Shares inched higher early Friday.
Outside the Dow Jones index, insurance leader Ryan Specialty is in the buy range above a 69.03 flat-base entry following a recent breakout move. Shares added 0.8% premarket Friday.
Texas Roadhouse decisively reclaimed a 177.72 flat-base entry during this week’s gains. Shares were flat Friday.
Restaurant software provider Toast is moving out of buy range past its 27.88 buy point following gains this week. The stock tacked on 0.6% early Friday.
Finally, Uber Technologies gave up 82.14 buy point in a consolidation amid a four-day losing streak. Uber stock bounced 0.7% Friday morning.
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Stock Market Today: Companies To Watch
These are four stocks in or near buy zones in today’s stock market.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Ferrari | (RACE) | 498.23 | Flat base |
| Taiwan Semiconductor | (TSM) | 175.45 | Cup with handle |
| ServiceNow | (NOW) | 850.33 | Flat base |
| Uber Technologies | (UBER) | 82.14 | Consolidation |
Source: IBD Data as of Oct. 14
Join IBD Experts As They Analyze Leading Stocks On IBD Live
Magnificent Seven Stocks: Alphabet, Meta, Nvidia, Tesla
Among Magnificent Seven stocks, Alphabet (GOOGL) rose 0.4%, while Meta Platforms (META) climbed 0.6% Friday.
Google parent Alphabet is finding support around the 50-day moving average. The stock remains well below prior highs. Meta stock hit a new high last week, rising further above a 544.23 alternate entry.
Nvidia shares notched record highs Thursday, with a 0.9% gain, further above a 131.26 buy point from an irregular handle. Shares added 1.1% Friday morning.
Tesla (TSLA) shares threatened to add to Thursday’s mild losses, as they fell 0.5%. Last week, Tesla stock dived below its 50-day line, but is still trading in a handle that has a 264.86 buy point.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon shares are bouncing from their 50-day line, near a 195.37 buy point in a cup with handle. The stock gained 0.4% Friday.
Apple stock broke out this week above a 233.09 cup-with-handle entry, but is below the buy trigger after Wednesday’s drop. Shares rose 2% Friday after a report from Counterpoint Research showed that the iPhone 16 is selling much faster in China than the iPhone 15 during the first three weeks of its launch.
Microsoft shares are trying to regain their 50-day line and are near a handle buy point at 441.85. And on Friday morning, the stock inched higher.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
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