Dow Jones falls ahead of inflation survey; Nvidia, Tesla above the mainstream

The Dow Jones industrial average and other major stock indexes traded lower on Friday ahead of a consumer sentiment reading that included an inflation survey. Two big names to watch in the stock market today Nvidia (NVDA) and Tesla (D.S.L.A) both regained a prominent position.

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The market rises powerfully again; Nvidia, shake shake, Tesla in focus

After the opening bell, the Dow Jones Industrial Average fell 0.1%, while the S&P 500 fell 0.2%. The technology-focused Nasdaq composite lost 0.3% in morning action.

Early Friday, the 10-year Treasury yield fell to 3.87%. Oil prices fell as West Texas Intermediate futures fell to $75.30 a barrel.

Among exchange-traded funds, Invesco QQQ Trust (QQQThe SPDR S&P 500 ETF lost 0.3% (the spy) was down 0.2% after opening.

Among Magnificent Seven stocks, Nvidia and Tesla rose 0.5% and 2%, respectively, in morning trade.

Nvidia stock rose another 4.1% on Thursday, extending its winning streak to four days and recapturing its 50-day hitting streak. That is an important point to watch. If Nvidia can hold above this level, it will soon provide an additional valid entry. But if stocks give up more, further weakness is likely.

Tesla shares rose 6.3% Thursday, retracing their 50-day streak for the first time since Aug. 2. The electric-car company’s stock may be finding the right side of a new platform, but it’s early in the process.

Wake-up calls are still ringing for Nvidia, Google, Meta and more

Stock Market Today: Consumer Sentiment

In housing data, the business sector posted an annual rate of 1.238 million starts and 1.396 million permits in July, slower than expected. According to Econode estimates, they were expected to fall to 1.342 million and 1.43 million respectively.

Later, the University of Michigan’s consumer sentiment index for August is due at 10 a.m., and Econoday estimates show the index will rise to 66.4 from July’s 67.0. Inflation expectations for the coming year are included in the survey.

A major revenue mover on Friday morning was the chip giant Utility items (Big) utility shares sold 4% in early trade.

The onslaught of selling Nvidia stock and more. But there are glimmers of hope.

Dow Jones extends rally

On Thursday, the Dow Jones industrial average rose 1.4%, while the S&P 500 rose 1.6% and the tech-heavy Nasdaq composite rose 2.3%.

Thursday during IBD LiveThe IBD Live panel discussed current trading conditions and how investors should handle the stock market today.

This is an important time to read the Big Picture column amidst the ongoing market action. Also, read how to adjust to changing market conditions, along with IBD’s new exposure levels.

Nvidia rift deepens. Don’t ignore earlier wake-up calls.

Stock Market Today: Top Stocks to Watch

One of the best companies to watch in the stock market today Cava (CAVA), Ferrari (race), Samsara (IOT) and Shake Shake (Sheikh)

Dow Jones components are also on the list Amazon (AMZN), Apple (APL), IBM (IBM), Microsoft (MSFT) and United Health (UNH)

There were four new shares IBD MarketSurge‘s “Breaking Out Today” list for Thursday, incl Birkenstock (Birk), which crossed the 61.83 buy point. Shares rose 0.1% on Friday.

Also, the site has a few stock ideas “Near Pivot” list. These are the top stocks nearing new buy points Costco Wholesale (cost) Costco stock is below the 896.67 flat-base entry. Shares fell 0.5% on Friday.

Check out the IBD Stock Lists to find more stock ideas IBD 50, Big cap 20 and stocks near a buy zone.

Get real-time buy and sell alerts for stock market leaders with the IBD Leaderboard

Dow Jones: IBM, UnitedHealth

Among Dow Jones components, UnitedHealth is in a buy range above the 554.70 buy point on a cup base. MarketSurge model recognition. Stocks rose on Friday morning.

Meanwhile, IBM is nearing its latest entry, the cup-with-handle buy point at 196.26. IBM stock fell on Friday.

Outside the Dow Jones index, Mediterranean restaurant chain Cava regained its 50-day streak last week. It also offers a buying opportunity for more serious investors. Shares are making a new base to the right, and are just shy of the 98.69 entry. Kava shares fell 0.6% in early Friday trading. This is a stock on the IBD SwingTrader list.

Shares of auto maker Ferrari are breaking out of a buy point from a 442.80 flat base. Ferrari is an IBD leaderboard stock. Shares were up 0.9% on Friday morning.

AI leader Samsaram followed this week’s breakout move by entering at 39.21 in a trophy with a handle. The stock was down 0.5% in early Friday trading.

Shake Shake passed a cup-with-handle entry at 105.68. But shares fell 0.2% on Friday morning.

Find the best stocks to buy and watch with IBD Stock Screener and IBD Screen

Stock Market Today: Companies to Watch

These are four stocks that are in or near buy zones in today’s stock market.

Source: IBD data as of August 15

Join IBD experts as they analyze the top stocks in the stock market today on IBD Live

Dow Jones Leaders: Amazon, Apple, Microsoft

Among the Dow Jones components of the Magnificent Seven, Amazon, Apple and Microsoft traded lower after the stock market opened on Friday.

Amazon shares decisively retook their long-term 200-day line during recent gains. The stock was down 0.1% on Friday morning.

Apple stock has bounced back above its 50-day mark amid a six-day winning streak. Last week, shares triggered a round-trip sell rule from a 199.62 buy point. Apple fell 0.1% on Friday.

Microsoft shares are back above the 200-day line. On Friday morning, the stock fell 0.6%.

Be sure to follow Scott Lehtonen on X, formerly known as Twitter @IBD_SLehtonen Learn more about growth stocks, the Dow Jones Industrial Average and today’s stock market.

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