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The Dow Jones Industrial Average briefly rose 200 points on Friday, even as chip giant Intel slumped earnings. Social media giants Snap and Twitter have jumped on revenue beats. Chinese education stocks New Oriental Education and TAL Education collapsed following Chinese government crackdown.
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Among the leaders of the Dow Jones, Apple (AAPL) rose 0.6% on Friday, while Microsoft (MSFT) rose 0.5% in today’s stock market. American Express (AXP) and Intelligence (INTC) reported earnings ahead of Friday’s opening.
You’re here (TSLA) threatened to extend a three-session losing streak, dropping 1% on Friday morning. Social media giants Break (SNAP) and Twitter (TWTR) surged after releasing its results Thursday night.
Among the best stocks to buy and watch, Advanced micro-systems (AMD), BioNTech (BNTX) and XPEL (XPEL) can be found in or near shopping areas.
Microsoft and Tesla are stocks in the IBD ranking. BioNTech is an IBD SwingTrader share. AMD was listed in the Stocks Near A Buy Zone column for this week, while XPEL was the IBD stock for Thursday.
Dow Jones today
The Dow Jones Industrial Average rose 0.5% on Friday, while the S&P 500 was up 0.55%. The tech-rich Nasdaq continued with a 0.3% gain in morning trading.
Snapshot of the US Stock Market Today |
||||
|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 34984.27 | +160.92 | +0.46 |
| S&P 500 | (0S & P5) | 4392.59 | +25.11 | +0.57 |
| Nasdaq | (0NDQC) | 14741.17 | +56.57 | +0.39 |
| Russel 2000 | (Etc.) | 218.23 | -0.30 | -0.14 |
| MICI 50 | (FFTY) | 45.11 | +0.59 | +1.33 |
Last Modified: 10:46 AM ET 7/23/2021 |
||||
Among exchange-traded funds, the Innovator IBD 50 (FFTY) jumped 1.1% on Friday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.4%. Meanwhile, the SPDR S&P 500 ETF (SPY) gained 0.4%.
Stock market rebounds
The S&P 500 looked to extend a four-session winning streak on Friday as it continues to rebound from its key 50-day line. The Nasdaq have also sought to win four consecutive days and are getting closer to records. The Dow Jones industrialists are targeting the 35,000 level again.
Thursday’s Big Picture column commented, “Despite this week’s rebound, the stock market remains in an uptrend under pressure as the number of distribution days remains high. The S&P 500 now has six distribution days. The June 16 distribution was removed from the count due to the weather. Distribution days longer than 25 sessions are considered no longer relevant to current market action. The Nasdaq count remains at four.
For more stock market commentary, check out The Big Picture from IBD.
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Dow Jones Benefits: American Express, Intel
Dow Jones American Express and Intel shares reported earnings ahead of Friday’s opening.
American Express crushed second-quarter earnings estimates on Friday morning as payment volumes in the United States picked up amid an economic recovery. AXP stock rose 4% to a new high.
Chip giant Intel topped second-quarter earnings and sales estimates, but the stock fell 5% on Friday morning. Stocks are over 20% of their 52-week high and below their 50-day moving average.
Stock market profits: Snap, Twitter
Snap climbed more than 22% on Friday morning after parent Snapchat easily surpassed Street’s revenue and sales targets. The shares broke one cup with the handle’s buy point of 70.34.
Twitter stock jumped 5% before slashing its gains to 1.5% in Friday trading following the company’s strong second-quarter results. The company also released better-than-expected third-quarter sales guidance. The stock is trying to break through a double bottom with a 72.17 entry for the grip.
Chinese education stock crash
New oriental education (EDU) and NLP Education (TAL) crashed 58 percent and 57 percent, respectively, following reports of government crackdowns including bans on foreign investment, according to CNBC.
chinese giants Ali Baba (BABA), Baidu (BIDU), and JD.com (JD) were not spared by the massive sales. Alibaba shares were sold at 4.5%. Baidu fell 5.5%, while JD.com lost more than 5%.
Stocks to buy and watch: AMD, BioNTech, XPEL
Chip giant Advanced Micro Devices plots a mug base with handle that shows a buy point of 95.54, according to graphical analysis from IBD MarketSmith. Shares fell 0.4% on Friday, on the verge of ending a four-day winning streak.
AMD stock was featured in this week’s Stocks Near A Buy Zone column.
According to the IBD Stock Checkup, AMD stock has a strong rating of 96 out of a perfect IBD composite rating of 99. The IBD composite rating identifies stocks with a mix of strong fundamental and technical characteristics.
IBD Leaderboard BioNTech stock jumped out of the buy range on Thursday amid the day’s 8.2% advance. The stock broke a buy point of 252.88 in a consolidation basis. According to the ranking analysis, BioNTech cleared a trendline after falling near 222, offering a new entry at a price point similar to the 50-day line. The shares edged down to 1.3% on Friday morning.
BioNTech is also an IBD SwingTrader share.
Thursday’s IBD share of the day XPEL erupted on Thursday after a buy point of 94.31 and just broke the 5% buy range which peaks at 99.03. Stocks rose 2% on Friday morning. On the upside, the RS line of the stock is reaching new highs.
IBD Live: a new tool for daily stock market analysis
Tesla shares
Tesla stock fell 1% on Friday, in an attempt to extend a three-session losing streak. The electric vehicle giant is once again trying to find support around its 200-day long-term moving average. Another strong show of support at these levels would look bullish for the stock’s outlook.
In contrast, Tesla’s RS lineup remains far from its old heights. A lagging RS line is a sign of an underperforming stock relative to the overall market. Tesla stock remains at nearly 30% of its all-time high, even as major indices hit record highs last week.
On January 25, Tesla stock hit an all-time high at 900.40, after climbing 93% from a buy point of 466 in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the major stocks in the Dow Jones, Apple rose 0.6% on Friday, which is expected to add to Thursday’s 1% gain. The stock hit an all-time high last week at 150.
Apple stock is back out of the 5% buy zone from an entry of 137.17 in a cup base, according to IBD MarketSmith’s chart analysis.
Microsoft continues to trade solidly above the buy point of 263.29 cups. Shares rose 0.5% on Friday to hit another all-time high. The stock is extended above the 5% buy zone, which climbs to 276.45.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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