The Dow Jones Industrial Average and the other major indexes increased gains around the lunch hour during Friday’s abbreviated trading session. Dow Jones component Nvidia (NVDA) recouped Wednesday’s losses while a connectivity stock soared ahead of earnings on the stock market today. Nvidia stock was added back to IBD SwingTrader.
The Dow Jones notched a 0.6% gain Friday midday, as it revisited the 45,000 level. The blue-chip index briefly topped the new milestone Wednesday, before closing lower.
The tech-heavy Nasdaq was the strongest of the major indexes and added 0.8%. The S&P 500 bolstered its rise to 0.6% and topped the 6,000 level. Both indexes are above their 21-day exponential moving averages. And the Russell 2000 showed a 0.5% lift.
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Volume rose on the New York Stock Exchange and fell on the Nasdaq from Wednesday’s totals.
The 10-year Treasury yield shed three basis points to just over 4.21%. U.S. crude oil lifted 0.7% to $69.23 a barrel. And bitcoin rose above $98,100, as it started to head back toward $100,000.
The U.S. stock market was closed Thanksgiving Day and will close early on Friday, at 1 p.m. ET. The bond market closes at 2 p.m. ET Friday.
Stock Market Today: Big Movers
In stocks, Credo Tech Group (CRDO) soared more than 10% in heavy volume ahead of its fiscal second-quarter earnings report, due after the close Monday. Shares reached an all-time high on the stock market today.
Credo stock has surged 158% so far this year. The maker of high-speed connectivity products is expected to earn five cents per share vs. one cent in the prior year. Sales are forecast to rise 52%.
IBD 50 aerospace stock Rocket Labs USA (RKLB) added 6.5% Friday and is on pace for its sixth straight day in the black. Shares have climbed 150% so far this month and have quintupled since the beginning of the year.
Newly added IBD SwingTrader name Cameco (CCJ) rose 3.4% and is in the buy zone of a 58.72 cup-base entry. The uranium mining stock has a tepid 69 Composite Rating and an 87 Relative Strength Rating.
Willis Tower Watson (WTW) inched higher and reached the 320.77 buy point of a three-weeks-tight pattern and is in a buy zone up to 330.39. BMO Capital raised its price target on the stock to 325 from 298. The insurance stock reached a record high.
Bitcoin mining stock TeraWulf (WULF) popped more than 9% in sympathy with the rise in bitcoin. The stock is priced around 8.
10:39 a.m. ET
Nvidia Stock Tests Critical Level, Tesla On the Move
Dow Jones stock Nvidia advanced 2.8% on the stock market today and led the 30-stock index. This comes after Wednesday’s 1.1% drop where it tested its 10-week moving average. A robust rebound off the closely watched line would put the artificial intelligence stock in a new buy zone. Nvidia stock is on IBD Leaderboard and the IBD 50.
Tesla (TSLA) increased 1.8% on the stock market today, in an attempt to break a three-day losing streak. The electric vehicle stock is far extended past a 264.86 cup-with-handle entry. Tesla is on the Leaderboard watchlist.
Applied Materials (AMAT) sprinted 3.8% as it bumped up to its 21-day line.
China-based retailer Miniso Group (MNSO) bolted 4.5% higher despite missing September-ended quarterly adjusted earnings and revenue estimates. Its earnings increased 12% on 24% sales growth.
The consumer products retail stock tested its 200-day moving average and is above its 50-day line. Shares have lost more than 8% so far this year and hold a dreary 29 IBD Relative Strength Rating and a 62 Composite Rating.
Warren Buffett Stock In Buy Zone
Warren Buffett’s Berkshire Hathaway (BRKB) tapped the 484.82 buy point of a flat base early Friday morning, before retracing below it, according to MarketSurge pattern recognition. Shares crept up slightly in recent trades.
IBD 50 fintech stock Dave (DAVE) powered up 6.8% in heavy volume and reached levels not seen since May 2022. The digital banking stock has gone up tenfold so far this year.
Stock Market Today: Bitcoin Stocks Rally
Some bitcoin and related stocks acted strong on the stock market today. MicroStrategy (MSTR) jumped 7.2% and was back above the 400 level.
IBD 50 bitcoin stocks Hut8 (HUT), Mara Holdings (MARA) and Coinbase Global (COIN) all saw positive action.
Bitcoin mining and infrastructure stock Hut8 added 5.5%, adding to Wednesday’s 16.5% jump. The stock is at two-year highs. Meanwhile, Mara surged more than 9% and topped a 26.19 handle entry.
Coinbase gained 1.6% and was extended from the buy zone of a long, late-stage irregular base with a 283.48 buy point.
Lastly, fellow IBD 50 name, Robinhood Markets (HOOD), tacked on another 3.7%. The stock’s climb earned it so-called “ants indicator” markings on its chart, showing unusually strong price and volume action over a rolling three-week period.
The online trading app stock got a boost on Wednesday’s news the Securities and Exchange Commission approved an application from 24X National Exchange allowing U.S. securities to be traded 23 hours a day, five days a week.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
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