The Nasdaq composite was under pressure Friday, weighed down by weakness in some semiconductor stocks like Nvidia (NVDA) and Advanced Micro Devices (AMD). But overall, indexes looked better on the stock market today than they did late Thursday as news broke Israel retaliated against Iran with limited strikes.
Meanwhile, Donald Trump stock Trump Media (DJT) added another 12% early in the session but backed off highs. The company on Friday notified the Nasdaq about potential manipulation of the stock.
X
The Dow Jones Industrial Average added 0.5% as investors weighed earnings from blue chips like American Express (AXP) and Procter & Gamble (PG). American Express shares jumped 3% after earnings and revenue topped expectations. The stock is in a buy zone as it finds support at the 10-week moving average. Procter & Gamble slid nearly 2% after revenue of $20.2 billion came in slightly below the $20.41 billion consensus.
The S&P 500 was slightly lower near 10:30 a.m. ET. The benchmark index is still waging a battle near the 5,000 level after a sharp break of its 50-day moving average earlier this week.
Small Caps Outperform The Market
While the tech-heavy Nasdaq fell 0.8%, small caps did better with the Russell 2000 up 0.2%. The Russell 2000’s performance was impressive in light of a 10% drop for index component Super Micro Computer (SMCI).
The stock market uptrend is under pressure, hurt by a multitude of factors. The Nasdaq composite and S&P 500 still have a distribution-day count. Further, breadth has been weakening more on the Nasdaq exchange and the New York Stock Exchange, and there’s been upward pressure on interest rates.
Winners beat losers on the Nasdaq by nearly 2-to-1. Breadth was better on the NYSE at around 4-to-1 positive.
The 10-year Treasury yield was down 3 basis points to around 4.61%. WTI crude oil futures were flat around $82.75 a barrel.
Stock Market Today: Netflix Falls, Shopify Gains
Netflix (NFLX) cratered 6% after the company reported another strong quarter, but its revenue outlook proved disappointing. Revenue growth accelerated…
..