In Friday afternoon trading, the Dow Jones Industrial Average and S&P 500 held modest gains.dow components 3M (MMM) was an early rally on the stock market today, supported by a rating upgrade and a higher price target.
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After seven consecutive sessions in the black, the Dow rose as much as 0.4% in morning trading. sales force (CRM), caterpillar (CAT) and american express (AXP).
3M’s stock price rose nearly 2% to around 99 shares after HSBC upgraded the stock to buy and raised its target price to 115 shares.
Small-cap stocks were the laggards, with the Russell 2000 down 0.7%. The Nasdaq Composite fell 0.2%, while the S&P 500 rose slightly.
Includes top gainers in the S&P 500 mettler toledo (MTD) rose significantly after the earnings release. Arista Networks (ANET) also outperformed on the stock market today after a strong earnings report earlier in the week. ANET gapped into the buy zone from a short cup base amidst strong volume.
Volume was mixed, slightly lower on the Nasdaq compared to the same time Thursday and slightly higher on the New York Stock Exchange. On the Nasdaq, losers outnumbered winners by less than 2 to 1. On the New York Stock Exchange, declining issues outnumbered advancing issues by about 3 to 2.
stock market today
Among the Magnificent Seven brands, Nvidia (NVDA) outperformed early, but its gains disappeared to 1%.Tech investors were in early spirits after semiconductor giant’s acquisition taiwan semiconductor (TSM) said April sales were $7.28 billion, up 59% from the same period last year. TSM gapped up 5% to clear a double bottom entry at 148.43. As a result, the Formosan cicada has been moved from the Reader’s Watchlist to the Leader’s List.
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Besides Nvidia, broadcom (AVGO) and micron (MU) were the top gainers on the Nasdaq 100, rising about 2% each.
Broadcom is down just 7% from its highs heading into the new consolidation. On the other hand, Micron continued to rise at a low level after approaching the test of the 50-day line.
China-based electric vehicle maker amid recent initial public offering Geeker (ZK) surged on the first day of trading after pricing at 21, the upper end of the suggested range of 18-21, last night. The stock was trading around 27.25.
The 10-year Treasury rose 5 basis points to about 4.5%. The University of Michigan Consumer Sentiment Survey, released at 10 a.m. ET, showed inflation expectations at 3.5%, higher than the expected 3.2%. The consumer confidence index was 67.4, much lower than expected.
revenue winner
sweet green (SG) was a big gainer on the MarketSurge Growth 250, jumping 37%. The stock soared to a 52-week high after the fast-casual chain reported better-than-expected sales growth, up 26% to $157.9 million. Sweet Green also revised its full-year sales forecast upward.
However, the new outlook was largely in line with expectations. Sweetgreen’s earnings report in late February spurred a significant rise in its stock price.
Natera NTRA soared to an all-time high on the stock market today after the DNA testing company reported strong first-quarter results. Natera soared more than 11% by midday after announcing a 54% increase in quarterly profit. Sales increased 52% to $367.7 million.
clean spark CLSK surpassed its 50-day moving average after the Bitcoin miner reversed a year-ago loss with a profit of 58 cents per share. Sales increased 163% to $111.8 million.
After Thursday’s massive gains, Celsius (CELH) added nearly 4% more to form the right side of the cup base.
Sellers drove down some top-rated growth stocks in the Market Surge Growth 250.Losses for chip equipment companies ranged from 3% to 6%. ACM Research (ACMR), giga cloud (GCT), Duolingo (duol) and robinhood market (hood).
For more stock market analysis and insights, follow Ken Shreve on X @IBD_KShreve.
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