Stocks were mostly higher on Friday afternoon, with the S&P 500 and Nasdaq rising to new levels and the Dow Jones Industrial Average lagging. Netflix (NFLX) soared to new highs on the stock market today.
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The Dow Jones Industrial Average recovered to trade nearly flat on Friday afternoon after a drop the previous day, but the S&P 500 rose 0.4% and the Nasdaq added 0.8%, both hitting intraday highs, while the small-cap Russell 2000 lagged, losing 0.6%.
Meanwhile, the Innovator IBD 50 (FFTY) exchange-traded fund rose 0.4%, holding support at its 21-day exponential moving average and trading above its 50-day moving average.
In the bond market, the 10-year Treasury yield fell 6 basis points to 4.28%, while the price of U.S. crude oil fell to nearly $83.50 per barrel.
Trading volume on the Nasdaq and New York Stock Exchange increased compared with the same time on Wednesday.
In economic news, June employment numbers were slightly stronger than expected. The Labor Department said nonfarm payrolls rose by 206,000 for the month, slightly beating EconoDay’s forecast of 189,000. The Department revised down its April and May payroll gains by a combined 111,000. The unemployment rate unexpectedly rose to 4.1% in June.
Stock market today: Netflix shares hit new highs
IBD SwingTrader stock, Netflix rose more than 1%, further out of a cup-based buy zone with a buy point of 639. The streaming entertainment giant hit a 52-week high and has more than doubled from the 52-week low it hit in October. Netflix shares are nearing their November 2021 all-time high of 700.99.
Another SwingTrader position, apple (AAPL) is also up about 2% to hit an all-time high, with the Magnificent Seven players also extending out of a cup-based buy zone from a 199.62 entry.
IBD 50 stocks Camtech (CAMT) rose 2.6% to hit an all-time high as well. The stock has risen in seven of the past eight trading sessions. The company designs, develops, and manufactures test and measurement equipment for the semiconductor industry.
Updated 12:14 p.m.
Meta Platform (META) was the top gainer on the Nasdaq 100 Index. Arm Holdings (ARM) and Advanced Micro Devices (AMD).
Meta confidently retook the 514.01 entry after initially breaching a buy point on thin trading volume last week. Arm surged more than 6% above the 177.31 alternative entry after topping the 164 entry on Wednesday. AMD rose 5%, but the recent sell-off has left the stock still down more than 20% from its all-time high.
Elsewhere, Palantir Technologies (PLTR) saw a solid gain, up about 4%, as shares rose above an entry of 26.57.
Updated 10:33 a.m. ET
Stock market today: Tesla, Nvidia fall
For other individual stocks, Tesla (TSLA) briefly rose above the 250 level but then began to decline. NVIDIA (NVDA) fell about 1% after rising 4.6% on Wednesday.
Tesla shares surged 8% in the final trading week of June and then surged another 24.5% last week after second-quarter delivery data beat expectations.
Nvidia, which found support at its 21-day exponential moving average, surged more than 4% in a half-day of trading on Wednesday. After months of strong performance, Nvidia is down less than 10% from its all-time high.
Movement of cryptocurrencies and growth stocks
In crypto, Bitcoin is plummeting again, dropping another 5% and approaching the $55,000 level after dropping below $60,000 last week. The iShares Bitcoin Trust ETF (IBIT) is down 8%, while the cryptocurrency exchange operator Coinbase (COIN) is down about 5% on the stock market today, with support near the 200 level in the spotlight.
Inside the MarketSurge Growth 250 App Lovin (APP) broke out of flat trading with strength, with shares up about 4% on strong volume and above a buy point at 88.50.
Agnico Eagle Mine (AEM) continued its rise on the stock market today after being added to the Leaderboard Model Portfolio on Wednesday, with shares rising another 2.1% on Friday to form the right side of a cup base.
For more stock market analysis and insight, follow Ken Shreve at X @IBD_KShreve. Kimberly Koenig, stock market news editor at X/Twitter translator.
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