The Dow Jones Industrial Average traded slightly lower in today’s stock market. During the last hour of trading, the main indices continued to decline from session highs, while the Nasdaq and S&P 500 remained slightly positive. The indices are currently on track for weekly gains of around 1%.
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Stock market today
At around 3 pm Eastern time, the Russell 2000 low-cap index fell 0.1%. Meanwhile, the Dow Jones traded slightly lower, down 0.2%. The S&P 500 rose 0.1%. The Nasdaq compound was trading higher, with a gain of more than 0.1%.
The volume was lower on the Nasdaq and NYSE compared to the same time as Thursday.
The Innovator IBD 50 ETF (FFTY) had a solid gain of 1.1% on Friday, exceeding the main indices.
The actions that led the growth in the ETF focused on growth were the online education actions Chegg (CHGG) and TechTarget (TTGT), with respective gains of 6.3% and 5.4%.
Chegg is currently trading in the 20% -25% profit zone from a 90.09 cup-based buying point, according to the IBD MarketSmith chart analysis.
Dow Jones Today
The Dow Jones was the only major index to fall, as a handful of its shares fell more than 1%. Between them, Cisco (CSCO), Disney (DIS) and Nike (NKE) led the negative side.
Disney shares fell 1.8%. The company announced profits on Thursday. Disney’s earnings and sales exceed views. Disney + subscribers now reach 94.9 million.
The stock rose above a new 183.50 flat-base buying point earlier this week and is still trading within the 5% buying zone, despite today’s losses. Disney shares recently found solid support in the 50-day line, which helped to send shares directly beyond the point of purchase.
Somewhere else, Nike (NKE) is building a flat base with a new purchase point of 148.05. Shares are now 4% away from entry after today’s 1% decline. The basis is the second stage, which is an earlier stage and means that Nike’s shares are likely to have plenty of room to run if they burst.
Intel (INTC), American Express (AXP) and JP Morgan (JPM) were among Dow Jones’ best performers. The shares gained 1.4%, 1.2% and 1.1%, respectively.
Intel shares are approaching a new point of purchase cup-with-handle at 64.05. The stock recovered its 200 and 50 day lines.
Beyond the Dow
Dating app Bumble (BMBL) raised $ 2.15 billion in its initial public offering on Thursday. The dating app’s shares rose more than 63% after higher-than-expected prices. The stock continued high on Friday, gaining more than 13%.
Elsewhere, shares of the electric car maker Tesla (TSLA) fell more than 1% as the stock approaches a possible test of its 50-day moving average. This would provide investors with a subsequent point of purchase. China’s regulatory agencies have called the electric car maker on its Shanghai-made Model 3 cars, citing concerns about what regulators call “abnormal acceleration” and “battery fires”.
Follow Rachel Fox on Twitter at @foxonstocks for more information about the market and comments from Dow Jones.
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