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Stock Market Today: Jobs Report Beat Sparks Market Advance; This Airline Breaks Out | Stock News & Stock Market Analysis

The major market averages traded solidly higher Friday, looking to end the week on a high note. Early Friday, the Labor Department reported that the U.S. economy added 228,000 jobs compared to the 190,000 estimate.

X The Nasdaq got off to a rough start Monday with an-over 1% decline, but those losses have been erased. The tech-heavy composite looked to advance for a third straight day, rising 0.7%.

The Dow Jones industrial average and the S&P 500 rose 0.2% and 0.4%, respectively.

Among the Dow Jones industrial components, tech leader Microsoft (MSFT) set the pace with a near-2% advance. Shares continue to rebound from the 50-day line, as the stock forms a flat base with an 86.30 entry.

On the downside, Coca-Cola (KO) fell heavily for a second straight day, dropping 1%. Shares moved further below their 50-day line.

FANG stocks got off to a good start Friday in the stock market today. Facebook (FB) illustrates some of the challenges of this market environment. On Monday, the social media giant sold off heavily below its buy point and the crucial 50-day support level. Just four days later, the stock was approaching its former highs, moving nearly 1% Friday and having reclaimed its 175.59 flat-base entry on Wednesday.

Meanwhile, Amazon.com (AMZN) and Netflix (NFLX) were on pace to reverse from their own weekly losses, rising 1% and 1.6%, respectively, Friday. Amazon remains extended, while Netflix is still below a 190.05 cup-with-handle entry.

Among companies reporting earnings, Finisar (FNSR) moved up over 4% despite missing bottom-line estimates late Thursday. Shares have been stuck in a significant downtrend since December 2016 and are about 50% off their 52-week high.

Airlines were flying high Friday, boosted by an upbeat Q4 outlook at United Airlines (UAL). The company raised its revenue outlook for Q4 and approved a new $3 billion share buyback program. Shares rose 1.5%, but remain stuck under their 200-day line.

The announcement comes just hours after industry leader Southwest Airlines (LUV) reported better-than-expected unit revenue guidance. The Leaderboard member is extended from a 59.99 cup-with-handle entry. Delta Air Lines (DAL) was breaking out above a 54.16 cup-with-handle entry, rising 1.5%.

Inside the IBD 50, Universal Display (OLED) surged over 6% after the company announced a new long-term agreement to supply OLED materials to a Chinese company. The stock is extended from a 145.40 flat-base entry.

On the downside, Five Below (FIVE) stumbled 0.8%. Shares remain well-above a 54.23 buy point and are up over 8% this week.

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