Stock Market Today: Dow Jones Edges Higher After 600-Point Plunge; Tech Winners Include Qualcomm, AMD, CrowdStrike


Today’s Stock Market: Dow Jones Makes Slight Recovery Following 600-Point Drop; Top Tech Performers Are Qualcomm, AMD, and CrowdStrike


At midday on Friday, major stock indexes were holding strong gains, with the Dow Jones Industrial Average lagging behind after a significant drop of 600 points the previous day. Salesforce was facing more selling pressure as investors prepared for the upcoming earnings report next week.

After a decline of nearly 2% on Thursday in higher volume, Salesforce saw another 2% dip in midday trading. The company is set to report its April-quarter results after the market closes on Wednesday. Last month, Salesforce experienced a gap down in its stock price following reports of potential acquisition talks with Informatica. However, negotiations stalled due to disagreements on the price, which was rumored to be around $10 billion.

Nvidia, on the other hand, held its gains well on Friday after a substantial increase of more than 9% the day before. The company added over $200 billion in market capitalization after reporting a surge of more than 400% in data center revenue year over year.

Top gainers in the Nasdaq 100 included Qualcomm, Advanced Micro Devices, and CrowdStrike. Qualcomm and CrowdStrike have shown strong performance, while AMD has been lagging since March.

The S&P 500 and Nasdaq composite were up 0.7% and 1%, respectively, near midday, rebounding from a rough day of distribution on Thursday. The Russell 2000 small-cap index also saw a 1% increase on Friday after testing its 50-day moving average the day before.

The Dow Jones Industrial Average edged higher by 0.2% near midday, driven by strong performances from Intel, American Express, and Apple. Apple is approaching its all-time high as it nears the top of a 23-week consolidation period.

Ross Stores and Deckers Outdoor were among the top gainers in the S&P 500 on Friday, following strong earnings reports. Ross stock surged above its 50-day moving average, while Deckers reached an all-time high.

In economic news, durable goods orders in April exceeded expectations, rising 0.7% month over month. Excluding transportation, orders were up 0.4%. The stock market also responded positively to the University of Michigan’s one-year inflation expectations gauge, which showed a decrease to 3.3%.

Overall, the stock market showed resilience on Friday, with some stocks performing well despite recent volatility. Opportunities for growth and potential risks continue to shape investor sentiment.

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