The Dow Jones Industrial Average and other major stock indexes traded mixed Friday with consumer sentiment data that includes an inflation survey due later in the session. Meanwhile, Nvidia (NVDA) fell from a record high on the stock market today.
After the opening bell, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 moved up 0.1%. The tech-heavy Nasdaq composite traded down 0.1% in morning trading.
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Early Friday, the 10-year Treasury yield ticked lower to 4.39%. Oil prices declined, as West Texas Intermediate futures traded around $69.70 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) fell 0.1%, as the SPDR S&P 500 ETF (SPY) was up 0.1% after the open.
Nvidia declined 0.5% Friday, falling after hitting a new high on Thursday at 152.89. Shares are on the cusp of being extended beyond a 140.76 buy point. Early Friday, JPMorgan raised its price target on Nvidia stock to 170 from 155, maintaining an overweight rating.
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Stock Market Today: Inflation Survey
Key earnings movers Friday include Elastic (ESTC), Gap (GAP), Intuit (INTU) and NetApp (NTAP).
Elastic shares stretched higher by 22% in morning trading, while Gap stock leapt more than 14%. Intuit shares sold off nearly 2%, as NetApp rallied 2%.
Elsewhere, the University of Michigan’s consumer sentiment reading is due out at 10 a.m. ET. The index is expected to hold steady at 73 for November, while inflation expectations for the coming year are expected at 2.6%.
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Dow Jones Rallies
On Thursday, the Dow Jones Industrial Average led the main indexes with a 1.1% advance, while the S&P 500 climbed 0.5%. The tech-heavy Nasdaq composite lagged with a less-than 0.1% rise. But small caps outperformed as the Russell 2000 index jumped 1.7%.
Among the best companies to watch on the stock market today are Broadcom (AVGO), Deckers Brands (DECK), Heico (HEI), FanDuel parent Flutter Entertainment (FLUT) and Tradeweb Markets (TW).
Dow Jones components making notable moves are Amazon.com (AMZN), Apple (AAPL), Microsoft (MSFT) and Salesforce (CRM).
Salesforce and Broadcom featured in this Stocks Near A Buy Zone column.
There were one new stock on IBD MarketSurge‘s “Breaking Out Today” list Thursday, namely Procore Technologies (PCOR) that topped a 74.11 cup-with-handle entry. Check for potential breakouts on the “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: Salesforce Rebounds
Dow Jones software leader Salesforce is testing a 318.71 buy point, according to MarketSurge pattern recognition. Shares rose 1% on Friday.
Outside the Dow Jones index, artificial intelligence giant Broadcom is below its 50-day moving average, as it continues to build a flat base that has a 186.42 alternative entry. Broadcom shares fell 0.6% Friday.
Heico is in buy range above its flat base’s 269.38 buy point and is a recent IBD Stock Of The Day. Shares gained 0.6% early Friday.
Deckers stock is approaching a new buy point in a cup-with-handle base at 182.26 as shares continue to rally. Deckers stock was up 3% Friday.
Shares of Flutter jumped past a 252.84 entry from a flat base during a jump last week to new highs and are moving out of buy range. The stock added 1.8% Friday morning.
Finally, Tradeweb briefly topped a 136.13 entry in a flat base this week, but closed below the buy point Thursday. Aggressive investors could have used a move above the high of 131.70 as a trendline early entry. Tradeweb stock dipped 0.1% in early action Friday.
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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 |
|---|---|---|---|
| Tradeweb | (TW) | 136.13 | Flat base |
| Costco Wholesale | (COST) | 923.83 | Flat base |
| Broadcom | (AVGO) | 186.42 | Handle entry |
| Deckers Brands | (DECK) | 172.57 | Handle entry |
Source: IBD Data as of Nov. 20
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Magnificent Seven Stocks: Alphabet, Meta, Tesla
Among Magnificent Seven stocks, Alphabet (GOOGL) slipped 2.1% in morning trading. Shares plunged below their 50-day line Thursday before closing just above it.
Meta Platforms (META) gave up its 50-day line last week, but is still near a flat base’s 602.95 buy point. Shares fell 0.5% Friday.
Tesla (TSLA) rose 0.2% Friday following Thursday’s 0.7% decline. Shares of the electric-vehicle giant are back near new highs.
Dow Jones Leaders: Amazon, Apple, Microsoft
Among Dow Jones components in the Magnificent Seven, Amazon stock slipped 2.2% Thursday, but edged higher in early trading Friday. Amazon shares are back below a consolidation’s 201.20 buy point.
Shares of Apple are trending narrowly above their 50-day line, as they build a flat base with a 237.49 entry. The stock rose a fraction Friday morning.
Microsoft shares were down 0.3% Friday morning. The stock remains below its 50-day line, a key level to watch.
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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