On Friday, stock futures hit a record high as the Dow Jones Industrial Average traded above the $40,000 mark. Advanced Micro Devices (AMD) Backlash following reports about transactions with software giants microsoft (MSFT).and game stop (GME) plunged on the stock market today after announcing preliminary results that missed the view count and plans to sell additional shares.
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In premarket trading, Dow Jones futures and S&P 500 futures rose 0.1% to fair value. Futures on the tech-heavy Nasdaq 100 rose 0.2% in morning trading.
Early Friday morning, the 10-year U.S. Treasury yield rose to 4.4%. Additionally, oil prices rose, with West Texas Intermediate futures trading near $79.30 per barrel.
Among U.S. exchange-traded funds, Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.1%, and SPDR S&P 500 ETF (SPY) also rose.
The meme stock mania further faded as GameStop shares plunged another 22% in Friday morning trading. The company announced early Friday that it expects first-quarter sales to decline from a year earlier, with sales expected to range between $872 million and $892 million. This was significantly lower than the expected $1.05 billion. GameStop also announced that it will sell up to 45 million shares of its Class A common stock in an on-market offering.
Meanwhile, semiconductor giant AMD rose 2.5% in premarket Friday on news that Microsoft will offer cloud computing customers the option to use AMD’s artificial intelligence chips instead of Nvidia AI processors.
Be sure to read how to adapt to changing market conditions with IBD’s new exposure levels.
Stock market today: Dow Jones tops $40,000
On Thursday, the Dow Jones Industrial Average made history by topping the $40,000 mark for the first time ever. walmart (WMT) rose on the back of strong financial results. However, the Dow Jones Industrial Average fell below its threshold by the close, and all three major indexes fell on the day.
Investor’s Business Daily’s Big Picture column said Thursday: “Thursday’s rise in Nasdaq volume means the decline in the composite index has become a distribution day, with only one major index rising to a new high. “There was one day of selling for institutional investors in the S&P 500.” May 7th was a dead end. ”
On Thursday’s IBD Live show, the IBD Live team discussed the current trading situation. The research team noted that a key feature of this market is the large number of purchasing opportunities from a growing number of industry groups.This is another green light for investors to increase their exposure in this buoyant market.
As the stock market continues to move, now is an important time to read The Big Picture column. Also, be sure to read about how to adapt to changing market conditions with IBD’s new exposure levels.
Learn how to time the stock market with IBD’s ETF Market Strategy
Stock Market Today: Stocks to Watch
netapp (NTAP), P.D.D. (PDD), taiwan semiconductor manufacturing industry (TSM) and trade web market (TW) — Plus Dow Jones Component JP Morgan Chase (JPM) and Merck (MRK) — one of the hottest companies on the stock market today.
JP Morgan and Taiwan Semi are featured in this “Stocks Near the Buy Zone” column.
An essential resource for daily breakouts is IBD MarketSurge’s Breakouts of the Day list. This indicates that the MarketSurge Growth 250 stocks are breaking through a new buy point. especially, trade desk (TTD) broke above the consolidation buy point of 94. For more stocks nearing base buy points, check out MarketSurge’s Near Pivot list.
To find more stock ideas, check out our IBD stock lists, including the IBD 50, Big Cap 20, and stocks near buy zones. These features identify bullish patterns and allow you to purchase points and check them daily.
Get real-time buy and sell alerts on stock market leaders with IBD Leaderboard
Dow Jones: JP Morgan, Merck
JP Morgan is breaking above the flat base entry of 200.94 after a strong rally in recent weeks. Stock prices rose little by little on the stock market today.
Meanwhile, pharmaceutical giant Merck is rapidly approaching a flat base entry of 133.10. Merck shares rose 0.9% on Friday.
4 Top Growth Stocks to Watch stock market today
Outside of the Dow Jones index, NetApp is trading in a buy range above its double-dip buy point of 108.82, according to IBD MarketSurge. NetApp stock rose 0.2% ahead of Friday’s move.
Tem’s parent company, PDD, is breaking above its cup-with-handle buy point at 142.32, following Thursday’s 1.5% rise. The stock rose 0.7% on Friday.
Chipmaker Taiwan Semiconductor is in a buy range above the 148.43 buy point on a double-bottom basis after a strong recent rally. Stocks fell slightly on Friday.
Despite falling 0.2% on Thursday, Tradeweb is at the top of the buy range above the flat-based buy point of 108.04. Shares were unchanged Friday.
Find the best stocks to buy and watch with the IBD Stock Screener and IBD Screen of the Day
Stock Market Today: Companies to Watch
These are four stocks in the buy zone or near the buy zone on the stock market today.
| Company Name | symbol | correct purchase point | Types of purchase points |
|---|---|---|---|
| american express | (AXP) | 231.69 | integration |
| texas roadhouse | (TXRH) | 157.12 | flat base |
| chipotle pepper | (CMG) | 3,023.98 | integration |
| trade web market | (TW) | 108.04 | flat base |
Source: IBD data as of May 6, 2024
IBD experts analyze today’s top stocks on the stock market on IBD Live.
Magnificent Seven stocks: Nvidia, Tesla
Among the Magnificent Seven brands, Nvidia (NVDA) rose 0.2%, but tesla (TSLA) Slightly lower on Friday morning.
Nvidia stock fell 0.3% on Thursday, holding above the handle entry at 922.20. The leader in artificial intelligence is his IBD leaderboard stock.
Tesla stock rose 0.5% on Thursday, with support at its 50-day line. The stock is still down more than 40% from its 52-week high.
Dow Jones Leader: Apple, Microsoft
Among the Magnificent Seven Dow Jones stocks are: apple (AAPL) and microsoft (MSFT) rose ahead of the stock market’s opening on Friday.
Apple stock edged higher on Thursday, holding onto recent highs. The stock has formed a cup base with a buy point of 199.62, but keep an eye out for a potential handle that offers a lower entry. The stock was up less than 0.1% Friday morning.
Microsoft stock fell 0.5% on Thursday, putting it within range of a flat base for the software giant with a buy point of 430.82. And on Friday, Microsoft shares rose 0.4%.
Be sure to follow Scott Lehtonen on X, formerly known as Twitter. @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average, and today’s stock market.
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