Dow Jones flat; Cathie Wood shares fall as EV shares plunge

The Dow Jones Industrial Average traded sideways for most of Friday, consolidating recent gains on the back of encouraging housing data. The index was unchanged as of 3 p.m. ET.


The S&P 500 and Nasdaq were each up 0.2% in afternoon trading. The two indexes have been trading sideways in morning trade. Today’s stock market. All three major stock indexes were on track for a third straight weekly gain.

Volume on the New York Stock Exchange and Nasdaq was down from the same period Thursday.

It’s a good day for small-cap stocks. The Russell 2000 rose more than 1% but remained volatile.

Innovators IBD 50 ETF (FFTY) also rose more than 1%.

Crude oil rose 4% to $75.86 a barrel on Friday, boosting oil stocks. Energy was the biggest gainer among the S&P sectors, while communications services, real estate and health care lagged.

The benchmark 10-year Treasury yield remained unchanged at 4.44%.

Housing starts rose to 1.37 million units in October, above the consensus estimate of 1.35 million units. Building permits also unexpectedly rose to 1.49 million units. Wall Street expected 1.46 million units. economic day.

Dow Jones Stocks

Rising oil prices boost Dow Jones stocks Chevron (CVX), one of the index’s biggest gainers in afternoon trading. caterpillar (cat), American Express (AXP) and walgreens (world boxing association) also rose, while the technology and health care sectors underperformed. visa (V) is trying to break out of the cup bottom at the 250.06 buy point.

In the field of science and technology, Applied Materials (Amat) fell 4% after its fourth-quarter earnings report. Sales were flat compared with the same period last year, while earnings per share increased 4% to $2.12. The company expects revenue for the current quarter to be $6.5 billion. Shares are in double bottom buy territory but are now below the buy point.Reuters reported on the company Facing federal criminal investigation The chip gear maker was a drag on the Nasdaq 100.

Google Parent letter (Google) exacerbated the decline in the technology index.Search giants and artificial intelligence competitors Microsoft (Microsoft Corporation) is delaying the release date of its conversational artificial intelligence tool Gemini. GOOGL stock retested its 50-day moving average.along with judge’s decision Its antitrust case remains uncertain.

gap (Global Positioning System) gapped up and held on to most of the 30% increase. Sales and profits fell in the third quarter compared with the same period last year, but gross profit margin improved by 390 basis points. The company expects fourth-quarter net sales to be flat. Abercrombie & Fitch (ANF) Show sympathy. A&F earnings are due Nov. 21.

More retailers report results

Also outside the Dow, Ross Store (Rost) also rose 8% after the earnings report.Earnings per share were $1.33, up 33%, while Sales also increased by 8%. The stock price has broken through the flat bottom, and the buying point is 122.70. The stock is now extended. Also in the field of clothing retail, children’s playground (PLCE) fell 9% after the release of third-quarter results. The company expects revenue growth to remain in the low single digits this quarter.

Among other profit drivers, BJ wholesale (Beijing) fell further below the 50-day moving average. Comparable sales in the third quarter increased 0.3% compared with the same period last year. Total sales grew 3%, while earnings per share fell for the third consecutive quarter.

In terms of construction equipment, Atcol (Attack power) gapped further below its 50-day moving average following its third-quarter report. Shares pared some losses in the afternoon. Sales and earnings have now fallen for three consecutive quarters.

Electric vehicle battery network supplier Charging Point Holdings (CHPT) shares plunged more than 35% after preliminary third-quarter results warned that sales were lower than expected due to delays in vehicle and fleet deliveries.

Global E Online (GLBECathie Wood’s Ark Fintech Innovation ETF (AlkovThe company bought 90,420 shares, according to the company’s disclosure. Earlier, GLBE tumbled after disappointing earnings on Wednesday. Shares remain below the 50-day moving average.

Stocks to Watch

Palantir (PLTR) is breaking through the cup bottom, and the buying point is 20.24. But volume is only average. warrior meets coal (HCC) also broke through the buy point of 52.99. Its trading volume is also very light.

In the oil and gas sector, Taga Resources (TRGP) and Philips 66 (PSX) takes the 50-day moving average.

Among Home Builders, IBD Ranks Stocks Dr. Horton (rectal cancer) appears to be making a handle on the cup holder.

inside IBD50, ideal car (plum) close to alternative entry 43.37. The Chinese electric car maker plans to mass-produce its first all-electric vehicle in February. Yunyao (net) is close to the cup bottom buying point of 76.07.Dow Jones components sales force (customer relationship management) is at the bottom of a double bottom, with a buy point of 228.79.

Please pay attention Vrama Krishnan Get more of today’s stock market news on X/Twitter.

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