Stock Market Today: Stocks Look To End Week With Modest Gains Despite Payroll Miss | Stock News & Stock Market Analysis

The major market averages looked to extend their 2018 winning streak to four trading sessions early Friday, despite a miss in jobs data. The U.S. economy added 148,000 jobs in Decembers, compared to a 191,000 estimate.

X The tech-heavy Nasdaq moved up 0.4%, while the S&P 500 and Dow Jones industrial average climbed 0.3% apiece. All three set new record highs, as they looked to cap off the opening week of 2018 with solid gains. The Nasdaq moved almost 3% this week, while the other two major indexes held weekly gains of around 2%.

Among the Dow Jones industrials, Microsoft (MSFT) extended a win streak to four trading sessions — up 1.1% — which has seen the stock regain its 86.30 flat-base entry and hit a new high. Shares are still squarely in buy range.

Elsewhere in the Dow, Wal-Mart Stores (WMT) briefly surpassed its 100.23 flat-base entry in early Friday trade before trimming gains. Shares rose 0.6%.

FANG stocks continued their recent pattern of strength in the stock market today with Google (GOOGL) leading the way, up 0.8%. Shares are extended from a 1,006.29 buy point after a successful test of the 50-day line.

Meanwhile, Facebook (FB) is adding to its gains after Wednesday’s breakout above a 184.35 buy point, rising 0.7%. Both Netflix (NFLX) and (AMZN) also broke out this week. Netflix rose 0.3% Friday, padding its slight cushion above its 204.48 buy point, while Amazon moved up 0.4% and is just above its 1213.51 entry.

Among companies reporting earnings, Constellation Brands (STZ) declined nearly 4% after reporting mixed fiscal-Q3 results. The stock fell further under a 227.30 flat-base entry after last week’s breakout. Shares will look to find support near their 50-day line.

Leading chip stock Nvidia (NVDA) continued to shape the right side of a base, edging 0.3% lower. The graphics-chip maker is approaching a 218.77 cup-shaped base buy point after regaining its 50-day line in heavy volume earlier this week.

Memory chip maker Micron Technology (MU) fell 2%, but the stock’s over-12% advance this week has propelled it back above its 50-day line. Shares are forming the right side of a potential base formation.

Inside the IBD 50, Planet Fitness (PLNT) looked to snap a four-day losing streak, rising 1.2%. Shares remain well-extended from a 27.32 flat-base buy point.

Elsewhere in the IBD 50, PayPal (PYPL) moved up 1.7%, as the payment processor etches the right side of a flat base. A 79.49 buy point looms just 2% away.


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Originally posted 2018-01-06 07:14:47.


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