Indexes weakened in afternoon trading and closed near session lows Friday in a middling rebound to the prior day's sell-off. But indexes held above critical chart levels.
The Dow Jones Industrial Average closed 0.7% higher and a fraction above its 50-day moving average. The S&P 500 trimmed its gain to 0.4% after being up about 1% in the stock market today. The S&P held above the 50-day moving average.
The Nasdaq finished 0.8% higher but also was up more than 1% earlier.
Volume fell on the NYSE and the Nasdaq from Thursday, according to preliminary data. Advancers led decliners by less than 6-5 on the Nasdaq. On the NYSE, decliners had a modest advantage over advancers, according to FactSet.
The small-cap Russell 2000 held a 0.6% gain. The Innovator IBD 50 ETF gained 0.9% as it bounced off the 200-day moving average.
The yield on the benchmark 10-year Treasury note rose eight basis points to 4.36%, a move that may have hurt stocks in afternoon trading. The benchmark yield is at a four-month high.
Amazon.com finished 6% higher and above a 195.37 buy point. Apple fell 1.6%. Both were major earnings reports late Thursday.
Charter Communications gapped up and lifted the telecom integrated services group, which was one of the best performers among IBD's 197 industry groups. The company's third-quarter earnings beat expectations.
Insurance brokers were among the worst performers, as Erie Indemnity sold off on third-quarter results. The stock is testing its 200-day moving average.
Super Micro In The Stock Market Today
Super Micro Computer fell further, after gapping down on Tuesday, when it announced on Wednesday that its accounting firm resigned. Shares have turned negative for the year and are trading below January's low of 27.59. At one point, the stock was up 244% above the 35.70 buy point from a Jan. 19 breakout. Shares gained 332% in 2024 to their March high of 122.90 before reversing lower.
1:42 p.m. ET
Eldorado, Onto Sell Off
Eldorado Gold plunged below the 50-day moving average after third-quarter earnings decelerated from the prior quarter.
Earnings also moved semiconductor inspection systems maker Onto Innovation. Shares gapped down and undercut a base after sales and earnings growth slowed in the third quarter. The company also announced a couple of acquisitions.
12:05 p.m. ET
Trump Stock Falls Again
Trump Media & Technology plunged 7% as it heads for a three-day losing streak. Despite soaring to a recent high of 54.68 on Tuesday, shares are on track for a 17% loss this week.
Dorman Products broke out of a flat base in heavy volume. The vehicle replacement parts maker reported third-quarter results late Thursday and increased its full-year midpoint earnings guidance to $6.90 per share from $6.10 earlier. Marvell Technology cleared a buy point of 85.76 from a choppy consolidation. The relative strength line is at a new high for both stocks, a good sign for their breakouts.
10:39 a.m. ET
Jobs Report Misses Forecasts
The economy added 12,000 jobs, missing economists' estimates of 125,000 by a wide margin, as two hurricanes and the strike at Boeing took their toll in October. August and September's payroll data was revised significantly lower. The odds of a 25-basis-point interest-rate cut at next week's Fed meeting on Nov. 7 stood at 99.5%, according to CME FedWatch Tool.
In readings of economic activity, the Institute of Supply Management's Manufacturing Index fell to 46.5 in October from September's 47.2 and was lower than Econoday's consensus of 47.6. S&P Global's PMI index for manufacturing came in at 48.5, above its flash reading of 47.8 and September's 47.3.
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Dow Jones Stocks
Magnificent Seven leader Apple fell further below the 50-day moving average despite beating both sales and earnings estimates. Earnings of $1.64 per share on $94.93 billion in revenue topped views of $1.60 per share on sales of $94.5 billion. But the tech titan missed sales views for the current quarter.
Amazon.com jumped more than 7% after its third-quarter results pleased Wall Street. Sales of $158.9 billion and earnings of $1.43 per share handily beat analysts' forecasts for revenue of $157.3 billion with earnings of $1.14 per share. Shares have cleared a handle entry at 195.37.
Chip leader Intel rebounded from the 50-day moving average after its earnings outlook for the current quarter quelled analysts' fears.
Among the Dow's energy stocks, Chevron delivered better sales and earnings than analysts had expected for its third quarter. Shares cleared an entry at 152.48 in a four-weeks-tight pattern. Boeing rose amid news that the aircraft maker had made its third offer to striking workers.
Stock Market Today
Atlassian soared 15% after delivering strong results for its September quarter and raising sales guidance for the fiscal year ending in June.
Cboe Global Markets triggered a sell signal and fell below the 50-day line in heavy volume after its third-quarter report.
Warren Buffett's Berkshire Hathaway rose ahead of its third quarter report on Saturday. Shares are below the 50-day moving average within a flat base that has a buy point of 484.82.
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