The Dow Jones Industrial Average was up 0.3% at 1.30 p.m. ET Friday, though off session highs.
X
The S&P 500 rose 0.2% with continued sideways action in Friday’s trading session.
The Nasdaq’s 0.3% gain fell short of the 50-day moving average at the hour.
Volume on the NYSE and Nasdaq was lower compared with the same time Thursday.
The small-cap Russell 2000 was unchanged as was the Innovator IBD 50 (FFTY) ETF.
Crude oil rose nearly 1% and traded at $87.47 a barrel.
The yield on the benchmark 10-year Treasury note was unchanged at 4.25%.
Dow Jones Stocks
Tech leaders lifted the Dow on Friday. Apple (AAPL) rose nearly 1%, breaking a two-day losing streak that drove the stock below the 50-day line. The stock remains under that level.
Microsoft (MSFT) regained its 50-day line with a 1.5% gain. Salesforce (CRM) rose in a cup base with a buy point of 238.22.
Stocks Moving Today
Adobe (ADBE) pared some early gains after Mizuho analysts upgraded the stock to buy from neutral with a price target of 630, up from 520. Analysts see upside to annual recurring revenue from Adobe’s digital media segment with its generative AI venture Firefly being a growth driver. Earnings are due next week, as are those from software leader Oracle (ORCL).
DocuSign (DOCU) quickly gave back early gains and fell after earnings. The stock is holding the 50-day line for now. Sales grew 1% and earnings were up 4%. For the quarter ending Oct. 31, the company expects midpoint revenue of $689 million.
Kroger (KR) is trying to retake its 50-day line in a big outside day after results. The grocery company affirmed its guidance for the full year.
First Solar Holds Analyst Day
First Solar (FSLR) rose after an upgrade following its analyst day. Deutsche Bank analysts upgraded the stock to buy from hold with a price target of 235. During its presentation, the maker of thin film photovoltaic modules said it foresaw margins increasing 42% next year and rising more than 60% by 2026. The stock is trying to retake its 200-day moving average.
Among software plays, Smartsheet (SMAR) surged after earnings. The stock gapped up from its nearly converged 200- and 50-day lines in strong volume. Second-quarter revenue grew 26% while earnings per share surged 260% from the prior year same quarter. The workflow management software maker sees sales growing 20%-21% in the third quarter with expected earnings of 8 cents-9 cents, reversing from a 1-cent loss a year ago.
ServiceNow (NOW) is nearing a buy point of 614.36 in a cup base in the stock market today. Its relative strength line is at a new high, a bullish sign as a stock nears a buy point.
Copart (CPRT) is in a base with a buy point of 47.38 with earnings due next week.
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