The Dow Jones Industrial Average was slightly lower in the current stock market. Over the past trading hour, major indices have continued to fall from session highs, while the Nasdaq and S&P 500 have remained slightly positive. The indexes are currently on track for weekly gains of around 1%.
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Stock Market today
Around 3:00 p.m. ET, the small-cap Russell 2000 index fell 0.1%. Meanwhile, the Dow Jones traded slightly lower, down 0.2%. The S&P 500 rose 0.1%. The Nasdaq composite was higher, gaining more than 0.1%.
Volume was lower on the Nasdaq and NYSE compared to the same time on Thursday.
The Innovator IBD 50 ETF (FFTY) posted a solid 1.1% gain on Friday, outperforming major indices.
Stocks that topped the growth-focused ETF were online education stocks Chegg (CHGG) and TechTarget (TTGT), with gains of 6.3% and 5.4% respectively.
Chegg is currently trading in the 20% -25% profit zone from a 90.09 cup-based buy point, according to IBD MarketSmith chart analysis.
Dow Jones today
The Dow Jones was the only major index down as a handful of stocks fell more than 1%. Amongst them, Cisco (CSCO), Disney (DIS) and Nike (NO) led the downside.
Disney shares fell 1.8%. The company announced the profit on Thursday. Disney revenues and sales exceed views. The number of Disney + subscribers is now above 94.9 million.
The stock rose above a new flat-base buy of 183.50 earlier this week and is still trading within the 5% buying zone despite today’s losses. Disney stock recently found solid support on the 50-day line, sending stocks right past the buying point.
Elsewhere, Nike (NKE) builds a flat base with a new buy point of 148.05. Shares are now 4% away from entry after today’s 1% drop. The base is the second stage, which is an earlier stage base and means Nike stock will likely still have plenty of room to run should it break out.
Intel (INTC), American Express (AXP) and JPMorgan (JPM) were among the top performers in the Dow Jones. The shares gained 1.4%, 1.2% and 1.1% respectively.
Shares of Intel stock are approaching a new buying point with handle cup at 64.05. The stock has reclaimed both its 200 and 50 day lines.
Beyond the Dow
Dating app Bumble (BMBL) raised $ 2.15 billion in its IPO on Thursday. Shares of the dating app were up more than 63% after higher than expected prices. The stock remained higher on Friday with a gain of more than 13%.
Elsewhere, electric car maker shares Tesla (TSLA) fell more than 1% as the stock gets closer to a possible test of its 50-day moving average. This would give investors a follow-up point of sale. Chinese regulators have sued the electric car manufacturer for its Shanghai-made Model 3 cars, citing concerns about what regulators call “abnormal acceleration” and “battery fires.”
Follow Rachel Fox on Twitter at @RTLnews for more market insight and commentary from Dow Jones.
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