Stocks inched lower Friday as the U.S. equities market takes a breather from a rally that has pushed major indexes to record high levels.
The S&P 500 was down less than 0.1% in early-afternoon trading after hitting a new all-time high this morning, while the Dow Jones Industrial Average and the tech-heavy Nasdaq Composite slipped 0.2% and 0.1% respectively. The S&P 500 closed at a record high on Thursday, the first time it had done so since early December, while the Dow and Nasdaq Composite came into the day less than 1% away from record closing highs of their own.
The Dow, S&P 500 and Nasdaq Composite entered Friday’s session each up more than 2% for the week, putting them on pace to post weekly gains for the second consecutive week. It’s a noteworthy turnaround for the major indexes, which were each riding two-week losing streaks before last week.
Stocks have posted solid gains the past four sessions amid optimism about generally strong corporate earnings reports, the prospects for AI-related business development and the pro-business measures being pursued by the new Trump administration.
Three Dow components were in the spotlight today after releasing quarterly results. Shares of American Express (AXP) were down nearly 3% after the financial services company reported results that were mostly in line with analysts’ expectations. Verizon Communications (VZ) advanced 1% after a better-than-expected earnings report, while Boeing (BA) was down 1% after the aircraft manufacturer released preliminary numbers that came in weaker than analysts had anticipated.
Shares of Novo Nordisk (NVO) were up 8% after the pharmaceutical giant announced positive results from a trial of its amycretin obesity treatment. Software maker Twilio (TWLO) soared more than 20% after issuing rosy forecasts for the coming years.
Mega-cap technology stocks, which have helped power the recent rally, were mixed on Friday. AI investor favorite Nvidia (NVDA) was down nearly 2%, while Apple (AAPL), Microsoft (MSFT) and Amazon (AMZN) also lost ground. Alphabet (GOOGL), Meta Platforms (META), Tesla (TSLA) and Broadcom (AVGO) were all higher.
Bitcoin was at $106,100 in recent trading, up from an overnight low around $103,000. The digital currency has gained 50% since the presidential election amid investor expectations the Trump administration will adopt policies that benefit the crypto market. On Thursday, Trump signed an executive order that establishes a working group intended to shape regulation and White House policy around crypto and other digital assets.
The yield on the 10-year Treasury, which correlates with expectations about where interest rates are headed, was at 4.61%, down from 4.64% late Thursday.
Gold futures were up 0.6% at around $2,780 an ounce, while WTI crude oil futures fell slightly.
EA Stock Price Levels to Watch After Recent Plunge
23 minutes ago
Shares in Electronic Arts (EA) were down agin Friday following a massive selloff yesterday that came after the video gamer publisher slashed its full-year bookings outlook amid softening demand for its sports games, including its prominent soccer franchise.
Since setting a record high in mid-November, EA shares have undergone a steep retracement, with the stock breaking down below a multi-year uptrend line during Thursday’s 17% drop. Importantly, the move occurred on the highest weekly trading volume since January 2023, indicating strong selling conviction.
Investors should watch crucial support levels on EA’s weekly chart around $110, $100, and $87, while also monitoring a key overhead area near $144.
The stock was down 2.6% at $115.50 in midday trading on Friday.
Read the full technical analysis piece here.
Novo Nordisk Jumps on Weight-Loss Drug Trial Results
1 hr 47 min ago
Novo Nordisk’s (NVO) shares surged Friday morning after the Danish drugmaker reported early stage results for its amycretin weight-loss drug.
The maker of Ozempic and Wegovy said that its Phase 1b/2a clinical trial showed people achieved weight loss from a mean baseline body weight of 92.7 kg (202.8 pounds) in three different maintenance doses, while those treated with placebo gained weight. In the highest dosage, 20mg, participants lost 22% of body weight after 36 weeks, while people treated with placebo gained 2% body weight.
At a dosage of 1.25mg over 20 weeks, people treated with amycretin lost 9.7% of their body weight, while those on placebo gained 1.9%. People given a dosage of 5mg over 28 weeks lost 16.2%, while those on placebo gained 2.3%.
Executive vice president for development Martin Lange said Novo Nordisk was “very encouraged” by the results. The firm said it now plans “further clinical development of amycretin in adults with overweight or obesity.”
U.S.-listed shares of Novo Nordisk, which is a leader in the weight-loss drug market along with Mounjaro and Zepbound maker Eli Lilly (LLY), had been trending lower since September. The stock plunged 18% one day last month after trial results for its weight-loss drug CagriSema disappointed.Â
TradingView
Novo Nordisk’s U.S. shares were up 8% in recent trading, narrowing their loss over the past 12 months to 17%.
Boeing Preliminary Q4 Results Show Impact of Strike
2 hr 51 min ago
Boeing (BA) released preliminary results early Friday that showed a bigger loss for the fourth quarter than analysts had expected.
The compan said it expects to report a fourth-quarter loss of $5.46 per share—far larger than the $1.40-per-share Visible Alpha consensus—when it issues its results on Tuesday. It also expects revenue of $15.2 billion, less than analysts’ estimate of $16.3 billion.
Boeing said its results were affected by the two-month machinists’ strike that crippled production, as well as charges around its defense segment and staff cuts.
“Although we face near-term challenges, we took important steps to stabilize our business during the quarter including reaching an agreement with our IAM-represented teammates and conducting a successful capital raise to improve our balance sheet,” said Boeing Chief Executive Officer (CEO) Kelly Ortberg, who took the reins at the embattled company in August.
TradingView
Shares of Boeing, which said it had $26.3 billion in “cash and investments in marketable securities” at the end of the fourth quarter, were up 1% in recent trading after falling more than 2% in the opening minutes of the session. They have fallen about 16% over the past 12 months.
Stock Futures Point to Lower Open for Major Indexes
4 hr 3 min ago
Futures tied to the Dow Jones Industrial Average were down 0.2%.
TradingView
S&P 500 futures were down 0.1%.
TradingView
Nasdaq 100 futures also slipped 0.1%.
TradingView