The Dow Jones Industrial Average and other major indexes were lower Friday, as Wall Street threatened to close out the week in the red. Two early losers on the stock market today were Nvidia (NVDA) and Tesla (TSLA).
Ahead of the opening bell, Dow Jones futures fell 0.4% vs. fair value, as did S&P 500 futures. Tech-heavy Nasdaq 100 futures lost 0.4% as well in morning trades.
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Stocks Hold In Quiet Day; Burlington Stores, Boston Scientific, Vertex Inc.
Early Friday, the 10-year Treasury yield ticked up to 4.6%, a level that it hasn’t closed above since May. Oil prices rose, as West Texas Intermediate futures traded around $70.30 per barrel.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) declined 0.4%, as the SPDR S&P 500 ETF (SPY) moved down 0.4% ahead of the open.
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Stock Market Today: Nvidia, Tesla Fall
Nvidia moved down 0.2% Thursday, snapping a four-day win streak and closing at its 50-day line, a key level to monitor. That placed the artificial intelligence giant at an early entry. Meanwhile, Nvidia stock will form a double-bottom base that offers a 146.54 entry at the conclusion of this week.
Shares are actionable above the 50-day line as well as clearing a short downward-sloping trendline from the record high of 152.89, as noted in the IBD Stock Of The Day. Nvidia stock declined 0.6% Friday morning.
Electric-vehicle giant Tesla skidded 1.8% Thursday, giving back a part of Tuesday’s surge. Last week, shares rallied as much as 84% above a 264.86 buy point in a cup with handle and they are about 7% off those highs.
Tesla stock fell in premarket action Friday, down 0.7% in early trade.
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Dow Jones Extends Win Streak
On Thursday, the Dow Jones Industrial Average rose less than 0.1%, extending a win streak to five sessions. The S&P 500 inched lower, as did the tech-heavy Nasdaq composite, which closed above 20,000. But the small-cap Russell 2000 index outperformed with a 0.9% gain.
Among the best companies to watch on the stock market today are BlackRock (BLK), Burlington Stores (BURL), Interactive Brokers (IBKR) and Taiwan Semiconductor Manufacturing (TSM).
Dow Jones components making notable moves were Amazon.com (AMZN), Apple (AAPL), Walt Disney (DIS) and Microsoft (MSFT).
Disney and Burlington 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: Disney Nears Buy Point
Dow Jones component Disney is approaching a 118.63 buy point in a cup with handle, according to MarketSurge pattern recognition. Shares gave back 0.1% Friday.
Outside the Dow Jones index, BlackRock is just under a 1,068.34 buy point in a four-weeks-tight pattern as it finds support at its 50-day moving average. BlackRock stock was down 0.6% in premarket trading Friday.
Burlington Stores rallied out of buy range above its 279.51 buy point during Thursday’s advance. Shares were off 0.5% Friday morning.
Interactive Brokers rose 0.3% Thursday, bouncing further from support at the 50-day line, offering an early entry around 172.50. The stock dropped 0.5% Friday.
AI chip maker Taiwan Semiconductor, better known as TSMC, broke out Monday, moving past a 205.63 cup-with-handle buy point. But shares closed below their buy point following Thursday’s decline. TSMC was a recent IBD Stock Of The Day. Shares rose 0.8% premarket 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, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| BlackRock | (BLK) | 1,068.34 | Tight area |
| Disney | (DIS) | 118.63 | Cup with handle |
| TSMC | (TSM) | 205.63 | Cup with handle |
| Burlington Stores | (BURL) | 279.51 | Cup with handle |
Source: IBD Data as of Dec. 24
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Dow Jones Leaders: Amazon, Apple, Microsoft
Besides Nvidia, another Dow Jones component in the Magnificent Seven is Amazon stock, which dropped 0.9% Thursday. Amid its recent rally, the e-commerce giant is sharply extended above a 201.20 buy point after hitting new highs last week. It lost 0.4% in premarket trading Friday.
Shares of Apple are out of buy range above a flat base’s 237.49 entry, as they hit more new highs Thursday. The stock inched higher Friday morning.
Microsoft shares dipped a fraction Friday morning, as they looked for support around their 50-day line. The software giant is building a cup with handle that has a 456.16 buy point.
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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