Stocks Today: Chevron, Visa, Exxon Mobil Lead Dow Jones Rally

The Dow Jones led the way in afternoon trading Friday, helped by strong earnings-related moves from Dow stocks today like Merck (MRK), Exxon Mobil (XOM) and Chevron (CVX). Merck gapped up above its 50-day moving average on strong earnings, but soft sales guidance from Amazon.com (AMZN) weighed on technology shares.




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The Dow Jones led the way, up 0.3%; the S&P 500 was mostly flat and the Nasdaq composite edged lower by 0.2%. Indexes shaved losses in premarket trading Friday on news of stronger-than-expected job growth in January. (For updates on this story and other market coverage, visit the Stock Market Today page.)

Other stocks today moving in heavy volume included Amazon. Shares slumped 4% as the stock remained sandwiched between its 50- and 200-day moving average. An earnings beat and record holiday sales were offset by sluggish first-quarter sales guidance and plans for increased spending.

Stocks Today On The Move

Visa (V) was another top performer in the Dow Jones, up nearly 4%. It’s back above its 50-day moving average after Thursday’s earnings report. It’s trying to break out over the 140 level with conviction. Competitor Mastercard (MA), a Leaderboard stock, is still in buy range after breaking out of a double-bottom base Thursday.

In earnings news, Deckers Outdoor (DECK) gapped out of a consolidation after reporting strong, better-than-expected earnings and sales. The company initially forecast sales of $805-$825 million but sales ballooned to $873.8 million, up 8% from the year-ago quarter.

LPL Financial (LPLA) was one of the top stocks today in the financial sector. It gapped out of a lengthy consolidation on strong earnings. Shares were up 8%.

Meanwhile, it’s another busy week of earnings reports in the coming week. Spirit Airlines (SAVE) hasn’t announced an official earnings date, but last year the company reported on Feb. 5. The discount airline is working on a cup-with-handle base with a 62.07 entry.

Results from Chipotle Mexican Grill (CMG) are due Feb. 6 after the close. CEO Brian Niccol has been on the job for less than a year, but he’s been focusing on digital and delivery to spur more growth. Chipotle is in the early stages of breaking out of a long consolidation that started in late August.

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