The Dow Jones Industrial Average and other major indexes closed Friday with losses as investors proved skittish ahead of the long weekend. The Dow was pulled down by the likes of Nvidia and Caterpillar. Meanwhile, several Warren Buffett stocks were a highlight on the stock market today.
Blue chips on the Dow shed 0.2%, or 92 points. This follows the 30-stock index's record high close on Thursday. Nvidia ended the day with a 3.3% deficit and extended its losing streak to three sessions. Caterpillar was the biggest loser on the Dow, with a 3.7% drop.
The S&P 500 sank 0.6% Friday and closed below the 6,500 level after finishing a tad above it Thursday. The benchmark index also ended Thursday at a record high.
Meanwhile, the Nasdaq composite got hit the hardest Friday and sold off nearly 1.2%. Small caps on the Russell 2000 also felt pain, and dropped 0.5%.
Volume was slightly higher on the Nasdaq exchange and lower on the New York Stock Exchange compared with Thursday in preliminary numbers, as investors prepared for the Labor Day holiday weekend. On the Nasdaq exchange, falling stocks edged out rising ones by more than 3-to-2. On the NYSE, losers narrowly topped winners.
Stock Market Today: IBD 50 Losers
These three names posted the largest losses on the IBD 50 today.
Ouster plunged 7.6% and undercut its 21-day line. Celestica tumbled 8.3% and pulled back to its 21-day line, finding support.
Lastly, Rambus cratered 9% after three days of gains. It also retreated to its 21-day line.
3:30 p.m. ET
Big Movers: This Beauty Stock Frowns
Ulta Beauty plunged nearly 7% in heavy volume, despite the cosmetics and fragrance retailer easily beating fiscal second-quarter earnings and sales forecasts. But investors seemed to clue in on its outlook expressing uncertainty about consumer demand.
The retail stock pulled back and tested its 10-week moving average, seeking support. Shares gave back nearly all gains from the 491.98 buy point of a flat base.
Dell Technologies skidded nearly 9% in huge volume and knifed below its 50-day moving average, triggering a sell signal. The tech products maker and data storage provider topped fiscal second-quarter profit and revenue views but gave third-quarter earnings estimates that lagged.
Ambarella trimmed an even larger earlier gain to around 18% in heavy trading Friday. The giant move came after the chipmaker handily beat fiscal second-quarter earnings and sales and issued fiscal third-quarter revenue above forecasts.
Futures: Alibaba News Hits AI. Why This Isn't DeepSeek 2.0.
2:27 p.m. ET
These Warren Buffett Stocks Rally, One Breaks Out
Warren Buffett, the "Oracle of Omaha" and leader of Berkshire Hathaway, turns 95 on Saturday. Buffett's Berkshire Hathaway Class B shares powered up 0.9% and are looking to extend a three-session win streak. Shares topped the psychological 500 price level Friday.
The stock is climbing in a 17-week-long, early-stage consolidation pattern with a 542.07 buy point. The stock reclaimed its 200-day moving average on Tuesday.
Berkshire Hathaway's pricey class A shares also added 0.9%, lifting the price tag to around 756,500 per share in recent trades.
Dow stock American Express rose 1.4% and broke out of a cup base with a 329.11 buy point. Shares are in the 5% buy zone up to 345.60, according to IBD MarketSurge pattern recognition.
The stock reached a record high on the stock market today.
Dow stock Coca-Cola advanced 0.8% on the stock market today. But the beverage giant is below its 50-day line and remains a laggard as seen in its weak 28 IBD Relative Strength Rating.
Lastly, fellow Dow component UnitedHealth Group gained 1.1% but has lost around 39% so far this year.
1:27 p.m. ET
Stock Market Today: Autodesk Leads S&P 500
Autodesk trimmed a larger morning gain to around 7.5% in heavy volume, after flirting with the 326.62 buy point of a long consolidation pattern.
Shares jumped after the company topped fiscal second-quarter profit and sales estimates. Autodesk stock reclaimed its 50-day moving average on the gap-up. The computer-aided-design software stock was the biggest gainer on the S&P 500 Friday.
Marvell Technology crashed by nearly 18% in heavy volume. The company met fiscal second-quarter sales estimates, but its fiscal third-quarter sales outlook disappointed.
Shares gapped below their 50-day line, triggering a sell signal. Marvell makes semiconductor products for data centers, including server processors, AI accelerators, and networking and storage chips.
IBD 50 name Affirm Holdings cut larger morning gains to around 10%, following the company's fiscal fourth-quarter earnings and revenue that came in better than expected. Shares hit the 100 price level before retracing. The "buy now, pay later" stock is on pace for four straight weeks of gains and has climbed 46% so far this year.
Another IBD 50 name, Palantir Technologies, skidded 1.4% and tested its 50-day line, seeking support.
12:24 p.m.
Nvidia And Caterpillar Weigh On The Dow
Caterpillar and Nvidia lagged badly on the Dow Jones Industrial Average with losses of 3% to more than 4%, even as the latest reading from the personal consumption expenditures index, one of the Federal Reserve's preferred inflation gauges, came in mostly as expected.
Caterpillar was under pressure after the company said tariff costs could hit $1.8 billion this year. Nvidia extended losses after a volatile reaction to earnings Thursday.
Marvell Tumbles
Chip designer Marvell Technology lagged badly in the Nasdaq 100, down more than 16%, after reporting earnings. Broadcom, a member of the Leaderboard model portfolio, gave back more than 4%, but it's still holding above its 50-day line.
Autodesk was a bright spot in the Nasdaq 100, up nearly 8%, after reporting solid earnings.
Utility stocks like Edison International and Pacific Gas & Electric outperformed in the S&P 500 with gains of 4% and 3%, respectively.
11:34 a.m. ET
Affirm Surges On Earnings
In earnings news, Affirm was off session highs, but shares still gapped up and rose more than 13% in huge volume. A strong earnings report was the catalyst.
Other heavy-volume gainers moving on earnings included Ambarella and IREN. Chip designer Ambarella soared more than 20% after the company reported a 50% increase in revenue. Data center operator IREN jumped more than 13% on news that revenue more than tripled to $187.3 million.
Gold stocks like Gold Fields, AngloGold Ashanti and Agnico Eagle Mines also outperformed with gains of 2% to 3%.
10:37 a.m. ET
Stock Market Today: Alibaba Soars On AI Move
China-based Alibaba surged more than 12% after the company reported earnings and announced a new artificial intelligence chip as Nvidia faces regulatory hurdles in the country. Alibaba is China's largest cloud-computing company. Alibaba stock is now above all of its moving averages as it tries to take out its recent high of 127.93.
Celsius soared nearly 6% after PepsiCo increased its stake in the energy drink maker and boosted distribution of Celsius' products.
Nasdaq 100 Winners, Losers: Autodesk, Lam Research
9:42 a.m. ET
Among the Nasdaq 100 stocks, Autodesk rallied 12% while Zscaler added 0.7%. Lam Research and Arm Holdings were early losers, with each dropping more than 2%.
Shares of Lam Research threatened to snap a five-day winning streak, as Arm stock continued to trade below its 50-day moving average.
9:13 a.m. ET
Dow Jones Movers: Apple, Caterpillar, Goldman, Sherwin-Williams
Inside the blue chip index, Apple rose 0.1% in morning action, moving closer to a 235.12 buy point.
On the downside, Caterpillar, Goldman Sachs and Sherwin-Williams were on the move lower. Caterpillar stock declined more than 2% after the company warned of higher tariff costs. Goldman shares lost 0.2%. Sherwin-Williams moved 2% lower in morning trading.
8:41 a.m. ET
Stock Market Today: Inflation Data
Early Friday, the Commerce Department said that the July core personal consumption expenditures price index, which excludes food and energy, rose 0.3% on the month, with an annual increase of 2.9%, both in line with estimates.
The PCE price index rose 0.2% on the month, with a year-over-year rise of 2.6%. Both also matched economist targets.
8:13 a.m. ET
Nvidia Stock, Palantir Slide
Ahead of Friday's open, Nvidia and Palantir traded squarely lower as the tech-heavy Nasdaq 100 futures dropped.
Nvidia stock declined 1%, threatening to extend a losing streak to three sessions. Still, shares are just off their all-time highs, reached on Aug. 12 at 184.48.
And Palantir stock moved 1.3% lower Friday premarket. Shares are still trying to find much-needed support at their 50-day moving average. A strong rebound would place the stock in a new buying area, while a sharp break of that level would be a sell signal.
Earnings Movers: Affirm, Dell, Marvell
Key earnings movers included Affirm, Alibaba, Dell Technologies, Elastic and Marvell Technology.
Affirm stock soared nearly 15%, while Alibaba shares rallied nearly 3%. Dell stock plunged more than 6%, while Elastic leaped nearly 12%. Finally, Marvell plummeted nearly 14% in premarket action.
Stock Market Today: Fed Inflation Data
Up next is the Fed's favored inflation indicator, the core personal consumption expenditures price index. The assessment is included in the Commerce Department's personal income and outlays report Friday. That inflation gauge is anticipated to rise 0.3% on the month, with an annual increase of 2.9%.
The Fed inflation gauge is due out at 8:30 a.m. ET.
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