The Dow Jones Industrial Average and the other major indexes closed with substantial gains in Friday’s abbreviated trading session. Dow Jones component Nvidia (NVDA) led the index as it was added back to IBD SwingTrader. And a biotech stock sank while bitcoin stocks reversed lower on the stock market today.
The Dow Jones notched a 0.4% gain, as it revisited the 45,000 level but closed just below it. Blue chips also briefly topped the new milestone Wednesday, before closing lower.
The tech-heavy Nasdaq was the strongest of the major indexes and added 0.8%. The S&P 500 bolstered its rise to 0.6% and topped the 6,000 level. Both indexes are above their 21-day exponential moving averages. And small caps on the Russell 2000 showed a 0.4% lift.
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Volume rose on both the New York Stock Exchange and Nasdaq from Wednesday’s totals. Advancers beat decliners by roughly 2-to-1 on both exchanges.
The 10-year Treasury yield shed five basis points to just 4.19%. U.S. crude oil dipped to $68.58 a barrel. And bitcoin rose above $97,000, as it started to head back toward $100,000.
The U.S. stock market was closed Thanksgiving Day and closed early on Friday, at 1 p.m. ET. The bond market closes at 2 p.m. ET Friday.
Stock Market Today: Biotech Plunges, Bitcoin Stocks Surrender Gains
IBD 50 component ADMA Biologics (ADMA) plummeted nearly 8% in above average volume and undercut its 21-day line. Shares have been volatile since reaching a high Nov. 11.
Meanwhile, some bitcoin stocks started strong, but surrendered those gains by the close despite a rise in the cryptocurrency. MicroStrategy (MSTR) had jumped more than 7%, but ended the day down 0.4%.
IBD 50 bitcoin stocks Hut8 (HUT), Mara Holdings (MARA) and Coinbase Global (COIN) all saw positive action.
Bitcoin mining and infrastructure stock Hut8 turned gains of more than 5% into a 1.5% loss. Mara had surged more than 9% but pared that down to a 1.9% climb by the close. It topped a 26.19 handle entry.
Coinbase turned a gain into a loss of nearly 5%. It remains above a 283.48 buy point.
Lastly, fellow IBD 50 name, Robinhood Markets (HOOD), had climbed nearly 4% but ended the day fractionally lower. The stock’s climb earned it so-called “ants indicator” markings on its chart, showing unusually strong price and volume action over a rolling three-week period.
The online trading app stock got a boost on Wednesday’s news the Securities and Exchange Commission approved an application from 24X National Exchange allowing U.S. securities to be traded 23 hours a day, five days a week.
12:09 p.m. ET
Big Movers On Stock Market Today
In stocks, Credo Tech Group (CRDO) soared in heavy volume ahead of its fiscal second-quarter earnings report, due after the close Monday. Shares reached an all-time high on the stock market today.
Credo stock has surged 158% so far this year. The maker of high-speed connectivity products is expected to earn five cents per share vs. one cent in the prior year. Sales are forecast to rise 52%.
IBD 50 aerospace stock Rocket Labs USA (RKLB) added more than 6% Friday and is on pace for its sixth straight day in the black. Shares have climbed 150% so far this month and have quintupled since the beginning of the year.
Newly added IBD SwingTrader name Cameco (CCJ) rose and is in the buy zone of a 58.72 cup-base entry. The uranium mining stock has a tepid 69 Composite Rating and an 87 Relative Strength Rating.
Willis Towers Watson (WTW) inched higher and reached the 320.77 buy point of a three-weeks-tight pattern and is in a buy zone up to 330.39. BMO Capital raised its price target on the stock to 325 from 298. The insurance stock reached a record high.
Bitcoin mining stock TeraWulf (WULF) popped in sympathy with the rise in bitcoin. The stock is priced around 8.
10:39 a.m. ET
Nvidia Stock Tests Critical Level, Tesla On the Move
Dow Jones stock Nvidia advanced on the stock market today and led the 30-stock index. This comes after Wednesday’s 1.1% drop where it tested its 10-week moving average. A robust rebound off the closely watched line would put the artificial intelligence stock in a new buy zone. Nvidia stock is on IBD Leaderboard and the IBD 50.
Tesla (TSLA) jumped on the stock market today, in an attempt to break a three-day losing streak. The electric vehicle stock is far extended past a 264.86 cup-with-handle entry. Tesla is on the Leaderboard watchlist.
Applied Materials (AMAT) climbed as it bumped near its 21-day line.
China-based retailer Miniso Group (MNSO) bolted higher despite missing September-ended quarterly adjusted earnings and revenue estimates. Its earnings increased 12% on 24% sales growth.
The consumer products retail stock tested its 200-day moving average and is above its 50-day line. Shares have lost more than 8% so far this year and hold a dreary 29 IBD Relative Strength Rating and a 62 Composite Rating.
Warren Buffett Stock In Buy Zone
Warren Buffett’s Berkshire Hathaway (BRKB) tapped the 484.82 buy point of a flat base early Friday morning, before retracing below it, according to MarketSurge pattern recognition.
IBD 50 fintech stock Dave (DAVE) powered up in heavy volume and reached levels not seen since May 2022. The digital banking stock has gone up tenfold so far this year.
Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.
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