The Dow Jones Industrial Average was an outlier in Friday afternoon trading, but showed positive activity as the decline in tech stocks deepened and the S&P 500 fell below key stock market psychological levels today. Ta. The index was mixed after Israel launched retaliatory strikes against Iran. Nvidia, Metaplatform, and Amazon fell below their 50-day moving averages as super microcomputers fell sharply.
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Bitcoin hovered around $64,000 ahead of the fourth halving event.
With more distribution days added on Thursday, the Dow Jones Industrial Average rose 0.5% and the S&P 500 fell 0.6%. The index is losing its key psychological level of 5,000. Among S&P sectors, utilities, energy, financials, and healthcare performed well, while communications services, technology, and consumer discretionary declined.
The Nasdaq suffered the biggest losses, falling 1.5%.
Volume on the New York Stock Exchange and Nasdaq increased compared to the same time Thursday. Nevertheless, the breadth belied weakness, with advancers outnumbering decliners almost 3 to 1 on the New York Stock Exchange. The Nasdaq had a slight edge on the stock market today.
However, few stocks hit new highs, confirming increasing signs that the market is under pressure.
The small-cap Russell 2000 rose 0.2%, giving up some of its early gains. Innovator IBD50 ETF (FFTY) fell 1.7%.
The benchmark 10-year Treasury yield fell 3 basis points to 4.61%.
The countdown to the halving began on Friday, with Bitcoin hovering around $64,000 with just a few blocks remaining. The halving reduces miners' rewards to 3.125 per block, effectively reducing the number of new Bitcoins in circulation over time.
dow jones stocks
american express (AXP) had a strong rebound after first-quarter revenue hit viewership, with earnings per share increasing to $3.33 versus expectations of $2.98. The stock price is supported by its 10-week moving average.
united health (UNH) also contributed to the Dow's rise. Amazon.com (AMZN), intel (INTC), microsoft (MSFT) and apple (AAPL) focused on that.
stock market today
Netflix (NFLX) fell 9% after strong first-quarter results, but the streaming giant's second-quarter revenue guidance fell short of expectations. The stock triggered a sell signal by dropping below its 50-day moving average. Netflix was the worst performer on the Nasdaq and the worst performer on the IBD Market Surge Growth 250.
intuitive surgery (ISRG) surged closer until it hit resistance at the 50-day moving average. First-quarter results were released late Thursday. Sales rose 11% to $1.9 billion, and earnings per share rose 22% to $1.50. Stocks are back near Thursday's closing price.
Among the Magnificent Seven, the ones that are expected to generate profits are: tesla (TSLA) Next Tuesday. Since January, the stock has been trending lower and is below its 50-day moving average.
Nvidia (NVDA), Amazon, meta platform (META) has broken through a key support level at the 50-day line. That's a sell signal. Nvidia fell 4% and fell below its 50-day line, which should also be taken as a sell signal.
This resulted in six of the Mag-7 falling below their 50-day moving average.
Google's parent company alphabet (GOOGL) remains just above the buy point of 153.78 on the stock market today.
Among other top AI plays. super microcomputer (SMCI) plunged 18%. The stock price fell further below its 50-day moving average, which is a sell signal. Volume is well above average. This is the collapse of one of the market's uptrend leaders.
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