The stock market ended on a high note Friday with back-to-back weekly winnings for the Nasdaq and the S&P 500. Stocks got off to a strong start and held the greater part of those gains at the finish on the stock market today, helped by a stronger-than-expected May jobs report.
Meanwhile, President Donald Trump said Treasury Secretary Scott Bessent and two other U.S. officials will meet China counterparts on Monday to continue trade talks in London.
The Dow Jones Industrial Average finished the day 1.1% higher for a gain of 443 points. The Russell 2000 led the charge with a 1.7% jump, the Nasdaq composite rallied 1.2% and the S&P 500 added 1%. The benchmark index closed at 6,000.
Volume was lower on both the Nasdaq and New York Stock Exchange. Breadth continued to flash positive sentiment, however, with winners beating losers on the Nasdaq exchange by roughly 5-to-3. The ratio was more than 2-1 positive on the NYSE.
The 10-year Treasury yield shot higher after an upside reversal above its 50-day line Thursday. The yield finished close to 4.51%, up another 11 basis points after rising three points Thursday.
3:51 p.m. ET
A Mix Of Leaders On The Dow
On the Dow, leaders presented a mix across industry groups. Energy titan Chevron and tech leader Salesforce were among those setting the pace for blue chips. Also on the rise was health care name Merck.
Among other Dow stocks, American Express neared a breakout with a 303.62 entry. And Amazon.com surged with its sights set on a 214.84 buy point.
Meanwhile, two Dow components are duking it out for largest company by market cap. Microsoft edged out Nvidia for the title on Friday.
2:47 p.m. ET
Stock Market Today: New Telehealth Firm Pops In Debut
In stocks, Omada popped during its initial public offering on the Nasdaq on Friday. The telehealth company provides a platform for managing chronic conditions such as diabetes and hypertension.
The company's IPO came in at 20. Shares were up nearly 30% in recent action to 24.61.
1:15 p.m. ET
China's Move On Rare Earth Minerals
Meanwhile, some reprieve came to automakers by way of reports that China had issued some temporary licenses between some of its rare earth minerals suppliers and General Motors, Ford and Stellantis, CNBC reported.
All three stocks rose but remained in deep downtrends in Friday's trading. Ford stock retook its 200-day moving average. A full rollback of restrictions on seven rare minerals had been widely anticipated.
Trump-Musk Spat Persists, Gold Loses Luster
Tesla was up more than 5% despite news that President Trump has no plans to reconcile with Musk after their high-profile spat heated up Thursday.
Musk harshly criticized Trump's spending plan for fiscal 2026 and took aim at the president on other issues. In retaliation, Trump threatened to pull government funding for work done at Musk's various companies.
Elsewhere, a strengthening U.S. dollar sent gold stocks lower on Friday.
The Invesco DB U.S. Dollar Index Bullish Fund retook its 10-day moving average for the first time since it fell below the benchmark on May 19, reducing the appeal for traditional safe haven assets like gold. The price of gold fell 0.9% while several gold stocks also lagged.
AngloGold Ashanti fell below a buy point, risking a breakout failure at 46.90. Meanwhile, Harmony Gold plunged more than 5% while Kinross Gold fell nearly 2% and Gold Fields dropped 3% in afternoon trades.
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12:12 p.m. ET
CoreWeave Rebounds, MasTec Rallies
In stocks, MarketSurge Growth 250 component CoreWeave rebounded nearly 5% after Thursday's sharp decline.
The stock isn't buyable now after a breakout from an initial public offering base on May 13. But some tight, sideways trading going forward in CoreWeave could give an alternate entry.
Shopify's gain strengthened to more than 6%. It's sitting just below a 112.38 buy point.
MasTec, tracked in Investor's Business Daily's building-heavy construction group, rallied more than 2% and topped a 161.46 entry. The moves comes after group peer and IBD Sector Leader Argan reported strong earnings late Wednesday.
Gold stocks got pummeled with IBD's gold miner group down around 2%. Agnico Eagle Mines tried to break out from a cup base, but the stock reversed lower. Shares were down more than 3% Friday.
10:39 a.m. ET
Amazon Near Buy Point
Amazon jumped 2% in recent trades. The e-commerce behemoth is carving a cup-with-handle base with a 214.84 buy point. Tesla, Shopify and Palantir outperformed in the Nasdaq 100 with gains of around 4%.
Tesla held a solid gain after Thursday's harsh sell-off. The stock slumped Thursday after a spat between Tesla Chief Executive Elon Musk and President Donald Trump intensified. Tesla showed bearish technical action Thursday by falling through some major support levels.
Shopify is closing in quickly on a 112.38 entry, while Palantir is battling for support near its 21-day line after Thursday's sharp sell-off.
Stock Market Movers: This IPO Jumps Again
Cryptocurrency player Circle, which more than doubled Thursday in its initial public offering, rallied another 19% Friday. The stablecoin issuer priced late Wednesday at 31, well above its expected range of 24-26, and opened Thursday at 69.
Leaderboard stock Rubrik, a big leader in the security software group, jumped early but pared gains drastically. It was one of the highest-weighed holdings in the model portfolio headed into its earnings report with a weighting of 12%. Investor's Business Daily's Leaderboard staff trimmed the weighing down to 9%-10% ahead of another strong report.
But several stocks fell sharply after reporting earnings, including Broadcom, Samsara and Docusign. Docusign plummeted nearly 19% while Samsara was off more than 6%.
But the decline of more than 3% for Broadcom — a rival of Nvidia — seemed orderly after a strong pre-earnings rally. The artificial intelligence chip leader looks poised for a test of its 10-day moving average.
It wasn't so orderly for retailer Lululemon Athletica, however, after it reported earnings. Shares plummeted nearly 17% in recent action and the stock fell through all its major moving averages in one fell swoop.
9:39 a.m. ET
Stock Market Today: Treasurys, Oil Move Higher
The 10-year Treasury yield ticked higher to 4.46% early Friday. And oil prices continued to rise, as West Texas Intermediate futures traded around $63.70 per barrel.
Among exchange traded funds, the Invesco QQQ Trust climbed 1%, as did the SPDR S&P 500 ETF.
8:50 a.m. ET
More Jobs Added Than Expected
Early Friday, the Labor Department said that the U.S. economy added 139,000 jobs in May, above estimates that called for an increase of 129,000 jobs, down from April's 177,000 number. The jobless rate held steady at 4.2%, in line with expectations.
Meanwhile, April payrolls were revised to show an increase of 147,000 jobs from 177,000 positions. March payrolls also were lowered, to denote an increase of 120,000 jobs from the 185,000 positions previously reported.
The report concludes a week of jobs data that began Wednesday with a disappointing report from Automated Data Processing, which said payroll additions amounted to just 37,000, instead of the 110,000 expected for May.
Then early Thursday, the Labor Department said that weekly jobless claims rose to 247,000 vs. 240,000 in the previous week. They were expected to fall to 235,000.
8:03 a.m. ET
Stock Market Today: Broadcom Sinks, Tesla Rebounds
In stocks, Broadcom declined more than 2% in premarket trading after the company's earnings results. A name on Investor's Business Daily's IBD Leaderboard, the artificial intelligence chip giant recently broke out of a consolidation period with a buy point of 251.88. A handle formed and offered a better entry at 235.28.
Other key earnings movers include Lululemon Athletica, Rubrik and Samsara. Lululemon stock plummeted more than 20%, while Rubrik shares climbed nearly 4%. Samsara plunged 12% in premarket trading.
Elsewhere, Tesla rebounded more than 4% amid a Politico report that White House aides have scheduled a call between President Donald Trump and Tesla Chief Executive Elon Musk on Friday to defuse tensions.
The two have traded broadsides in recent days as Musk criticized Trump's budget plan while the president threatened to cut off government aid for the Tesla chief's various business ventures.
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Dow Jones Leader Amazon Eyes Buy Point
Elsewhere, Dow Jones e-commerce giant Amazon is within striking distance of a 214.84 cup-with-handle entry, according to MarketSurge chart analysis. Amazon stock rallied 1.1% Friday.
Outside the Dow, Magnificent Seven stock and recent IBD Stock Of The Day Meta Platforms is in buy range above a 662.67 entry. Meta stock gained 0.8% Friday premarket.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Investors 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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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.
