The Dow Jones Industrial Average and other major stock indexes rallied Friday, as Wall Street cheered a surprisingly strong April jobs update. Nvidia, Tesla and Amazon climbed but Apple tumbled on the stock market today in the wake of their earnings reports.
After the opening bell, the Dow Jones Industrial Average rose 1.2%, while the S&P 500 gained 1.1% and the tech-heavy Nasdaq composite rose 1%.
The 10-year Treasury yield ticked higher to 4.29% early Friday. Meanwhile, oil prices ticked up, as West Texas Intermediate futures traded near $59.30 per barrel.
Among exchange traded funds, the Invesco QQQ Trust added 1.1%, while the SPDR S&P 500 ETF moved up 1.2% after the open.
Tesla stock rallied 2.4% in early action Friday, but continues to see stout resistance at the long-term 200-day moving average line. Led by Chief Executive Elon Musk, the electric-vehicle maker remains around 42% off its record high of 488.54, reached on Dec. 18.
Nvidia stock gained 2.8% in morning moves. Shares of the artificial intelligence giant are finding resistance around their 10-week line, an important area to watch.
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Stock Market Today: Jobs Report; Amazon, Apple Earnings
China's Commerce Ministry said in a written statement overnight that it's "currently evaluating" whether to hold trade talks with the U.S. The statement noted that senior U.S. officials have repeatedly stated they want to negotiate with Beijing.
But the ministry said the U.S. is responsible for initiating the trade war and thus should show its "sincerity" in talks.
The U.S. Labor Department's April jobs report showed that the U.S. economy added 177,000 jobs in April, above Econoday estimates that called for a 130,000 increase. The unemployment rate held steady at 4.2%, matching expectations.
In stocks, Amazon reported first-quarter earnings and sales ahead of expectations. With concerns about how tariffs will hit Amazon's massive digital storefront, the e-commerce titan guided below Wall Street expectations for operating income during the current quarter. Amazon wavered between positive and negative ground in morning trades, and was up nearly 1% in latest action.
Late Thursday, Apple beat estimates for its fiscal second quarter, thanks to record services revenue. But Apple stock dived 5% in early trading.
Other key earnings movers include Airbnb, Amgen, Atlassian, Block and Duolingo. Also reporting were Strategy and Reddit, along with energy giants Chevron and Exxon Mobil.
Shares of Airbnb lost 2%, while Amgen stock rallied by 0.9%. Atlassian stock plunged nearly 11%, while Block shares plummeted 23%. Duolingo stock jumped more than 14%, as Strategy advanced more than 3%.
Also, Reddit stock tumbled 4%, as Chevron advanced 1.2% and Exxon Mobil added 2.2% in early morning action.
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Dow Jones Extends Win Streak
Blue chips on the Dow Jones Industrial Average climbed 0.2%, or 83 points. The S&P 500 rose 0.6%, and the Nasdaq composite advanced 1.5%. Also, the small-cap Russell 2000 gained 0.6%. At session highs, the Dow 30 had been up as much as 1.1%, while the S&P 500 and Nasdaq held respective advances of 1.6% and 2.7%.
Due to current market volatility, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are CrowdStrike, MercadoLibre, Penumbra and Guidewire.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and Boeing.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Investor also can find potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones Stocks: Boeing Nears Buy Point
Shares of Dow Jones component Boeing rose 1.2% Friday, and was perched right near a double-bottom entry at 184.40, according to MarketSurge chart analysis.
Outside the Dow, cybersecurity leader and new IBD Leaderboard stock CrowdStrike is adding to breakout gains past a 400.02 buy point in a cup with handle, IBD MarketSurge chart analysis shows. Shares added 1.4% Friday morning.
E-commerce giant MercadoLibre is at the top of the buy range above a 2,202 entry in a double-bottom base, according to IBD MarketSurge. MercadoLibre stock tacked on 2.2% Friday.
Penumbra is finding support at its 288.57 double-bottom entry amid a three-day losing streak. Shares moved up 0.7% early Friday.
Finally, Guidewire is breaking out past a 201 buy point in a double bottom. Guidewire stock added 0.9% in early morning trades.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Friday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| Boeing | 184.40 | Double bottom | |
| Spotify | 621.20 | Double bottom | |
| Penumbra | 288.57 | Double bottom | |
| MercadoLibre | 2,202.00 | Double bottom |
Source: IBD Data as of April 30
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Dow Jones Leaders: Microsoft
Magnificent Seven stocks are rebounding from lows as Wall Street reacts to the fallout from President Donald Trump's tariffs. One of them, Dow Jones component Microsoft, added 1.7% early Friday.
On Thursday, Microsoft stock shot up 7.6%, retaking its 200-day line for the first time since Jan. 29.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
