Dow Jones futures rallied 50 points Friday morning, while tech futures declined, as Intel (INTC) and Snap (SNAP) took a dive on earnings. Former President Donald Trump-linked SPAC Digital World Acquisition (DWAC) soared as much as 105% in premarket trade.




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Among the Dow Jones leaders, Apple (AAPL) rose 0.2% premarket Friday, while Microsoft (MSFT) moved up 0.1% in today’s stock market. American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) eyed new buy points in the current rally.

Dow Jones stock Intel — along with Chipotle Mexican Grill (CMG) and Snap — reported earnings after the close Thursday.

Tesla (TSLA) rose 0.2% Friday morning following Thursday’s earnings-fueled advance. Shares are just off new highs.

Among the top stocks to buy and watch, Advanced Micro Devices (AMD), Argo Blockchain (ARBK), Dutch Bros (BROS) and Olaplex (OLPX) are in or near new buy zones.

Microsoft, Olaplex and Tesla are IBD Leaderboard stocks. AMD was featured in this week’s Stocks Near A Buy Zone story. Argo Blockchain featured in this week’s IPO Leaders column.

Dow Jones Today

Ahead of the stock market open, Dow Jones futures rose 0.1% vs. fair value, while S&P 500 futures moved down 0.1%. Nasdaq 100 futures lost 0.3% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Among exchange-traded funds, Innovator IBD 50 (FFTY) hadn’t started trading yet premarket Friday. The Nasdaq 100 tracker Invesco QQQ Trust (QQQ) fell 0.2%. And the SPDR S&P 500 ETF (SPY) ascended 0.1%.


Stock Market ETF Strategy And How To Invest


Stock Market Rally

The stock market rally put in a solid performance Thursday, as the S&P 500 hit a record high and marked its seventh straight gain. The Nasdaq easily recovered from Wednesday’s small loss and made its highest close since Sept. 9.

Following last week’s significant market strength, this is an important time to read The Big Picture.

On Thursday, The Big Picture commented, “Investors should be adding exposure to new breakouts in top growth stocks. But stay disciplined and be sure to cut losses quickly if breakouts start to fade. Keep in mind that Q3 earnings season is in full swing. Strong earnings can fuel top stocks to previously untouched levels, so be on the lookout for breakaway gaps.”


Five Best Dow Jones Stocks To Watch Now


Dow Jones Stocks To Watch: Amex, Goldman, JPMorgan

American Express ended Thursday below a 178.90 buy point in a cup with handle, according to IBD MarketSmith chart analysis. Shares were up more than 1% premarket Friday.

Goldman Sachs was up 0.5% premarket Friday, as it trades about 3% away from a 420.86 buy point in a flat base. Meanwhile, JPMorgan is in the 5% buy zone past a 163.93 entry in a cup with handle and has bounced off the 50-day moving average. The 5% buy area tops out at 172.13. JPM stock rose 0.5% in premarket trade.

American Express and Goldman Sachs both have strong relative strength lines. A strong relative strength line at the start of a new uptrend is indicative of a potential market leader.

Dow Jones Earnings: Intel

Intel earnings crushed Wall Street’s earnings target for the third quarter, but disappointed investors with its sales and outlook. Intel shares tumbled more than 10% premarket.

The stock ended Thursday nearly 20% off its 52-week high.

Stock Market Earnings: Chipotle, Snap

Chipotle beat third-quarter earnings expectations Thursday, and the stock was up just 0.4% in premarket trade. CMG shares have been stuck below their 50-day line for weeks.

Snap beat views on third-quarter earnings late Thursday. But it but fell short on sales and presented a fourth-quarter revenue outlook short of expectations due to various issues. Snap estimated fourth-quarter revenue in the range of $1.16 billion to $1.2 billion. That’s below analyst estimates of $1.36 billion. 

Snap, the parent of Snapchat, crashed about 20% in premarket trade.

Stocks To Buy And Watch: AMD, Argo Blockchain, Dutch Bros, Olaplex

Advanced Micro Devices broke out past a 114.59 buy point out of a double-bottom base earlier this week and is still in buy range. AMD stock jumped more than 2% before the open.

According to IBD Stock Checkup, AMD boasts a perfect 99 IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics.

Argo Blockchain stock is trying to break out past its first buy point — a 19.43 entry in an IPO base — according to IBD MarketSmith chart analysis. The stock pared gains to 4% Thursday and closed below the entry. Argo is part of IBD’s IPO Leaders screen. Shares were flat premarket.

Dutch Bros closed Thursday further below a 62.10 buy point in an IPO base following Tuesday’s breakout move. Shares are about 2% below the buy point after two straight days of losses. Dutch Bros stock inched lower Friday morning.

IBD Leaderboard stock Olaplex cleared an IPO base entry at 27.84 Thursday, advancing 7.8% to close in the 5% buy zone. The buy area tops out at 29.23. Per Leaderboard analysis, it also cleared an aggressive trendline entry near 27. Shares were unchanged premarket Friday.


Join IBD experts as they analyze leading stocks in the new stock market uptrend on IBD Live


Donald Trump SPAC Soars

Digital World Acquisition — a special-purpose acquisition company, or SPAC, merging with Trump Media & Technology Group — soared as much as 105% early Friday morning before paring some gains, on pace to add to Thursday’s 356% surge after former president Trump announced plans to launch a social media company.

The firm plans to launch a social media site named Truth Social. There will also be a subscription-based video-on-demand service to be called TMTG+.

A SPAC, also known as a blank-check company, is an alternative to a traditional initial public offering. These blank-check companies have no assets beyond cash. They trade on stock exchanges and then merge with private companies, taking those companies public.

Tesla Stock Nears New Highs

Tesla stock rallied 0.2% premarket Friday, looking to add to Thursday’s bullish 3.3% gain. TSLA shares remain comfortably above a 764.55 buy point in a cup with handle, as well as earlier entries at 700.10 and 730.

The stock closed Thursday about 1% below record highs. On Jan. 25, Tesla stock hit a record high of 900.40, after climbing as much as 93% from a 466 buy point in a cup-with-handle pattern.

Dow Jones Leaders: Apple, Microsoft

Among the top Dow Jones stocks, Apple rose 0.2% premarket Friday, on pace to extend a six-day win streak. A new cup base is forming that has a 157.36 buy point, according to IBD MarketSmith chart analysis.

Software giant Microsoft gained 0.1% premarket Friday, as the stock stays in buy range above its latest buy point. The flat base had a 305.94 buy point and the 5% buy zone tops out at 321.24.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.

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By James Carter

A Senior writer & Editor, James is a postgraduate in biotechnology and has an immense interest in following news developments. Quiet by nature, he is an avid Lacrosse player. He is responsible for handling the office staff writers and providing them with the latest updates happenings in the world. He writes for almost all sections of Editorials 24.