The Dow Jones Industrial Average and other major indexes traded higher, as investors reacted to housing data and awaited an industrial report ahead of the market open Friday. Meanwhile, Apple (AAPL), Nvidia (NVDA) and Tesla (TSLA) were early winners on the stock market today after posting sharp losses in the previous session.
Ahead of the opening bell, Dow Jones futures rose 0.6% vs. fair value, as S&P 500 futures gained 0.7%. Tech-heavy Nasdaq 100 futures moved up 1.1% vs. fair value in morning trades.
↑ X NOW PLAYING Stocks Pause After Big Rally; Vertiv, Energy Transfer, Quanta Services In FocusThe 10-year Treasury yield ticked lower to 4.57% early Friday, on pace to end the week with sharp losses. And oil prices dipped, with West Texas Intermediate futures trading around $78.62 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) rose 1.1%, and the SPDR S&P 500 ETF (SPY) gained 0.7% ahead of the open.
Shares of Apple plunged 4% Thursday to their lowest level since mid-November. This week, they tumbled decisively below their 10-week line, a key sign of weakness. But they rebounded 1.5% early Friday.
Nvidia bounced 1.3% Friday morning, erasing a part of Thursday's 2% decline. Shares are seeing stout resistance at their 50-day moving average, a key level to watch.
Electric-vehicle giant Tesla skidded more than 4% Thursday. Shares appear to be finding support around their 10-week line, and they may be forming a new base. Tesla stock moved up 1.2% Friday premarket.
Nvidia Investors Should Closely Watch These 3 Telltale Clues
In economic news, the Commerce Department's housing starts and permits handily topped estimates. December starts rose to a rate of 1.499 million, above the expected 1.32 million reading. And permits climbed to 1.483 million, above the 1.458 million estimate, according to Econoday.
Later, the Federal Reserve's industrial production report is scheduled for 9:15 a.m. ET. Industrial production is expected to rise 0.3% in December, with an increase of 0.4% for manufacturing, according to Econoday.
In stocks, Fastenal (FAST), Regions Financial (RF), SLB (SLB) and State Street (STT) were key earnings movers Friday morning.
Fastenal shares dropped more than 4% in premarket trading, while Regions stock gained more than 1%. SLB jumped almost 3%, as State Street sold off 3% in early morning trade.
Apple Keeps This Crown, But Gets Tarnished Alongside Nvidia
On Thursday, the Dow Jones Industrial Average fell nearly 0.2%, while the S&P 500 lost 0.2% and the Nasdaq declined 0.9%. Following this week's bullish action, now is a good time to check IBD's The Big Picture for an update on the current exposure level.
Among the best companies to watch in the current stock market are Howmet Aerospace (HWM), Interactive Brokers (IBKR), Meta Platforms (META) and Spotify (SPOT).
Along with Apple, Dow Jones components making notable moves were Amazon.com (AMZN), Microsoft (MSFT) and Walmart (WMT).
Meta and Walmart are featured in this Stocks Near A Buy Zone column.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. 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 retail giant Walmart is building a flat base that offers a 96.18 buy point, according to MarketSurge pattern recognition. But it must first find support at the 50-day line. Shares edged higher Friday.
Outside the Dow Jones index, Howmet Aerospace is breaking out and in buy range above a 120.71 buy point in a flat base. Shares added 0.7% premarket Friday.
Interactive Brokers is just below a cup-with-handle base's 193.41 entry. The stock was up 0.9% Friday.
Social media platform Meta remains above its 602.95 buy point, as shares again find support around their 50-day moving average. But Meta stock rose 0.5% in Friday's premarket trading.
And Spotify is just shy of a flat base's 506.47 buy point following this week's bullish move. Spotify stock boasts the RS Line Blue Dot from IBD. That confirms the music streaming giant as a market leader. Shares declined 1.3% Friday morning.
Nvidia, Apple And Tesla Highlight How To Handle The Stock Market Today
These are four stocks in or near buy zones in today's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Interactive Brokers | (IBKR) | 193.42 | Cup base |
| American Express | (AXP) | 307.82 | Flat base |
| Intuitive Surgical | (ISRG) | 556.23 | Flat base |
| Meta Platforms | (META) | 602.95 | Flat base |
AI-Fueled Energy Stock Has This Edge Over The Nvidias Of The World
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which dropped 1.2% Thursday to hold above support at the 50-day line. That's a new buying opportunity for the e-commerce giant. It added 0.7% in premarket action Friday.
Microsoft shares gained 0.6% Friday morning, as they continue to consolidate below their 50-day line.
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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