On Friday, the stock market saw some mixed movements as the Dow Jones Industrial Average dipped slightly while other major indexes rose. Investors were eagerly awaiting upcoming speeches from Federal Reserve officials as they assessed the market. Netflix (NFLX) stood out as an early earnings winner, surpassing profit expectations.
Before the markets opened, futures for the Dow Jones indicated a 0.2% decrease, while S&P 500 futures were up 0.2% and Nasdaq 100 futures rose by 0.5%. The 10-year Treasury yield inched up to 4.1%, and oil prices experienced a slight decline with West Texas Intermediate futures trading around $69.80 per barrel.
In terms of ETFs, the Invesco QQQ Trust (QQQ) was up by 0.5%, and the SPDR S&P 500 ETF (SPY) added 0.2% before trading started.
Netflix saw a substantial increase of 6.6% after exceeding Wall Street predictions for the third quarter and offering optimistic guidance for the current period. This pushed the stock above its 50-day moving average, potentially signaling a new buy area.
Other companies generating buzz with their earnings reports included Intuitive Surgical (ISRG) and Procter & Gamble (PG). While Intuitive Surgical saw a more than 6% surge in its shares, P&G experienced a 1.3% decline in premarket trading.
Throughout the day, various Fed speeches were scheduled, providing investors with further insights into the central bank’s thinking on interest rates and the future economic landscape.
In terms of market performance on Thursday, the Dow Jones Industrial Average reached another record closing high, while the S&P 500 ended slightly lower. The Nasdaq composite saw a small increase, and the small-cap Russell 2000 index declined after a four-day winning streak.
Stocks like Ryan Specialty (RYAN), Texas Roadhouse (TXRH), Toast (TOST), and Uber Technologies (UBER) were among the companies worth monitoring in the market. Additionally, notable components of the Dow Jones—such as Amazon.com (AMZN), Apple (AAPL), JPMorgan Chase (JPM), and Microsoft (MSFT)—were closely watched.
Stocks in or near buy zones included Ferrari (RACE), Taiwan Semiconductor (TSM), ServiceNow (NOW), and Uber Technologies (UBER).
Alphabet (GOOGL), Meta Platforms (META), Nvidia, and Tesla (TSLA) were highlighted as part of the Magnificent Seven stocks. Many of these companies saw positive movements, with Nvidia reaching record highs, and both Amazon and Apple bouncing back from recent fluctuations.
Overall, the market continued to show a mix of movements, indicating ongoing volatility and uncertainty that investors will need to navigate with care.
