Major stock indexes posted respectable gains Friday. The Dow Jones Industrial Average showed its dominance on the stock market today. All three major indexes are above their longer-term 200-day moving averages.
Meanwhile, Coinbase Global rallied, while top stocks in the technology sector like Nvidia and Palantir posted modest gains and Tesla rose 2.1%.
The Dow climbed 0.7%, or 332 points. The index bulked up by 3.4% for the week. On Thursday, it closed just above its 200-day moving average.
The S&P 500 on Friday rose 0.7% and logged a fifth consecutive win. The market benchmark index turned positive for the year Tuesday. For Friday's close, the Nasdaq rose 0.5%.
The small-cap Russell 2000 outperformed the major indexes, notching a 0.8% gain and holding above the 2,100 level. Unlike the other major indexes, it remains about 3% below its 200-day line.
Volume was lower on both the Nasdaq exchange and New York Stock Exchange compared with Thursday. On the Nasdaq exchange, rising stocks topped falling issues by roughly 2-to-1. On the New York Stock Exchange, gainers beat losers by nearly 5-to-2.
Oil prices rose 1% to around $62.35 a barrel. Bitcoin climbed to around $103,980, and the benchmark 10-year Treasury bond shed 1 basis point to 4.44%.
Stock Market Today: Coffee Stock Gets A Jolt
IBD 50 and IBD SwingTrader stock Dutch Bros advanced 2.9% in heavier-than-average volume on the stock market today.
Shares reached an early entry at 72.72 within a deep cup base with an official 86.88 buy point, according to MarketSurge pattern recognition. Dutch Bros stock is in a 5% buy zone up to 76.36. Shares popped more than 16% for the week. The coffee-shop operator topped first-quarter profit and revenue estimates May 7.
3:20 p.m. ET
IBD 50 Movers: CoreWeave Hits New High
Recent new issue CoreWeave spiked more than 25% and hit a new high on the stock market today. The company reported a larger-than-expected first-quarter loss but higher revenue than forecasts Wednesday.
The stock made the elite IBD 50 despite not being profitable. It was by far the biggest gainer on the IBD 50 Friday. Shares started trading on March 28, with an offer price of 40 per share.
Hims & Hers was another big winner as it popped nearly 6% in above-average volume after two days of selling.
On the losing end of the IBD 50 was Travere Therapeutics, with its more than 20% plunge in heavy trading. The severe drop came following news the Food and Drug Administration accepted its review application for its rare kidney disease drug, but will hold an advisory committee meeting on the treatment.
The biopharma stock undercut its 50-day line and its 200-day line Friday. The steep drop below the 50-day line triggered a sell signal. Shares had been trading around the 21.35 buy point of an early-stage double-bottom base.
What To Do As Market Rally Powers Up; Broadcom, Meta Eye Buy Points
1:59 p.m. ET
Stock Market Today: Coinbase Recovers From Steep Drop
Coinbase Global stock shot up 8% Friday in heavy volume, recovering from Thursday's 7.2% sell-off. The drop came on news that the crypto exchange is facing a customer data breach. Coinbase said it will not pay the $20 million ransom demanded, but instead offered a bounty in the same amount for information that could lead to the hackers.
Coinbase is adding to Tuesday's 24% gain, which came on news it will join the S&P 500 index before the open on Monday, May 19.
Applied Materials tumbled around 6% in heavy trading, after the semiconductor equipment maker missed fiscal second-quarter sales estimates. It also gave fiscal third-quarter guidance with revenue coming up short. The stock has sorely underperformed, as reflected in its weak 28 IBD Relative Strength Rating.
IBD 50 stock Doximity plummeted more than 10% in enormous volume, despite a beat on fiscal fourth-quarter profit and sales estimates. But investors dumped the stock on the company's fiscal first-quarter and fiscal 2026 revenue guidance that came in below forecasts. Shares knifed through their 50-day and 200-day lines.
12:17 p.m. ET
Stock Movers: Nvidia, Walmart, Vistra
Nvidia broke out of a downtrend earlier in the week on news of a multiyear data center deal with a Saudi firm. Nvidia stock has followed through nicely since then, and barely lost any ground Thursday. Tesla stock is also showing strength after gapping above its 200-day line late last week. Meanwhile, Palantir is still in a buy zone after clearing a cup-with-handle base Tuesday. The buy point was 125.26.
Walmart was a top gainer in the Dow Jones index, up more than 2%, after recovering off lows Thursday. Walmart on Thursday reported a 2% rise in quarterly profit, while revenue increased 3% to $165.6 billion. Shares initially fell 5% on the news, but Walmart pared the loss to less than 1% by the close. Walmart is just below a 99.74 buy point as it sets up in a cup-with-handle base.
Vistra Energy was a top gainer in the S&P 500, up nearly 3%. Shares were strong after the company said it bought some natural gas assets for $1.9 billion to meet growing power demand.
Economic News: Imports, Exports, Inflation
In economic news, import and export prices rose unexpectedly in April, while April housing starts came in mostly in line with expectations. Building permits were a bit weaker than expected.
Inflation data was also in focus. Inside the University of Michigan's consumer sentiment survey, which showed lower than expected consumer confidence, the year-ahead inflation expectations component jumped to 7.3 vs. the 6.6 consensus. Investors bought bonds, sending the 10-year yield lower by three basis points to around 4.42%.
See Which Stocks Are In The Leaderboard Model Portfolio
Among breakout stocks, Paymentus continued its torrid run and cleared a long cup base. But after five straight weekly gains, and another one likely this week, the stock looks quite stretched.
That's not the case with eBay, which broke out and is just above a 71.53 handle buy point, best seen on the daily chart.
Fortinet was a top gainer in the Nasdaq-100 index, up nearly 2%, as it builds a cup-with-handle base with a 109.33 entry.
10:49 a.m. ET
Stock Market Today: Warren Buffett Buys
Late Thursday, Warren Buffett's Berkshire Hathaway said it more than doubled its stake in Constellation Brands in the first quarter. Meanwhile, it lowered exposure in the financial sector by exiting positions in Citigroup and Brazilian fintech Nubank. Constellation shares faded Friday after a strong start.
Charter Communications pared early gains on news it will buy privately-held Cox Communications in a $34.5 billion transaction, including about $12.6 billion in debt.
Inside the Leaderboard model portfolio, Boston Scientific edged higher and is in position to break out over its recent high of 105.74. Another portfolio holding, the SPDR S&P Bank ETF could try to move over its recent high of 55.49.
Find The Best Long-Term Investments With IBD Long-Term Leaders
Gold futures came under more pressure with the June contract down 1.5% to just below $3,200 an ounce. SPDR Gold Shares showed a similar loss as it makes a key test of its 10-week moving average.
Growth Stocks On The Move
In earnings news, fast-casual Mediterranean restaurant chain Cava fell more than 5% despite reporting another strong quarter. Adjusted profit more than doubled to 22 cents a share. Revenue jumped 28% to $331.8 million. Same-store sales growth was impressive again in the first quarter, up 10.8%.
Sprouts Farmers Market rallied nearly 3% as it carves a cup-with-handle base. It's approaching a buy point of 178.16. It was one of several strong gainers in the MarketSurge Growth 250.
Follow Ken Shreve on X @IBD_KShreve for more stock market analysis and insight.
