Stock Market Update: Early Friday Trading Insights
On this Friday morning, the Dow Jones Industrial Average and other major stock indexes saw modest gains. A significant development was the sharp increase in shares of Applied Digital (APLD), which surged by 26% following impressive earnings that exceeded analyst expectations. This boost also positively impacted its partner, CoreWeave (CRWV), as well as fellow AI data center companies like Nebius (NBIS) and Iren (IREN).
In contrast, Qualcomm (QCOM) faced a slight decline amid news of an antitrust investigation initiated by Chinese regulators, mirroring action taken against Nvidia (NVDA) just a month prior.
Market Metrics Overview
The Dow rose by 0.54%, with the S&P 500 and Nasdaq Composite both increasing by 0.2%. Despite a slight downturn on Thursday, these major averages are nearing record highs. Meanwhile, the yield on the 10-year Treasury note dropped by five basis points to 4.10%, and crude oil prices fell by 2%, now hovering around $60.30 per barrel, influenced by easing tensions in the Middle East due to a ceasefire.
Stock Highlights
Applied Digital: Notably, shares skyrocketed by nearly 28% early on, building on a remarkable 283% gain seen in 2025 alone. The company reported an unexpected profit with revenues soaring 84% to $64.2 million, significantly outpacing analyst forecasts.
Oracle: Gaining more than 1%, Oracle is approaching a trendline entry around the $300 mark, indicating potential for further upside.
Doximity: The stock dipped by 3%, though it remains above its 69.80 cup-with-handle buy point. Following a downgrade from JPMorgan, concerns around valuation surfaced, leading to the stock’s fall.
Levi Strauss: The apparel giant’s shares fell nearly 9%, putting a 22.35 cup-base buy point at risk. Despite exceeding fiscal third-quarter expectations, the company lowered its guidance for the upcoming quarter.
Federal Reserve Commentary
In remarks to CNBC, Federal Reserve Governor Christopher Waller expressed his preference for a cautious approach to potential interest rate cuts. This suggests a careful strategy, in contrast to more aggressive cuts proposed by some political figures. Waller is among five candidates being considered for the Fed chair role, which will become available when Jerome Powell’s term ends in May.
Tech Stocks in Focus
Several technology giants are nearing key buy points. Broadcom (AVGO) has risen close to a 347.61 entry point, while Oracle stock is nearing the trendline entry level. Palantir Technologies (PLTR) remains flat but is edging closer to its 185.75 cup-with-handle buy point after a rough week.
Market Dynamics
As we head into regular trading hours, keep in mind that premarket movements do not necessarily predict the day’s outcomes. Investors should remain vigilant for potential shifts as the day progresses.
For those keen on market insights and stock analysis, ongoing updates and detailed strategies can be sourced from financial experts across various platforms.
