Indexes Nearly Flat; 2 Blue Chips Buoy Dow As 10-Year Yield Jumps


Major stock indexes were mostly unchanged with about one hour left to go in Friday’s session, as eight-week win streaks for the Dow Jones industrial average and S&P 500 were in jeopardy.

[ibd-display-video id=2567460 width=50 float=left autostart=true]The Dow Jones industrial average and S&P 500 edged lower while the Nasdaq composite gained less than 0.1%. The Russell 2000 small-cap index edged higher by 0.1%. Volume on the NYSE and Nasdaq was tracking lower than Thursday’s levels at the same time of day.

Walt Disney ( DIS ) and Wal-Mart ( WMT ) bucked the trend in the Dow, with gains of nearly 3% and 1%, respectively.

Shares of Disney was strong despite an earnings and sales miss late Thursday. Investors focused instead on news of a new “Star Wars” trilogy, plus a streaming servicing in the works that CEO Bob Iger said would be priced lower than Netflix ( NFLX ). Chartwise, Disney’s 200-day moving average around 106 is a potential resistance level to watch. Shares of Disney were trading around 105.61.

Earnings from Wal-Mart, meanwhile, are due Thursday before the open. The retail bellwether has been a pillar of strength after a breakout last month over an 82.09 buy point.

In the stock market today , Nvidia ( NVDA ) was a big winner, up 6% to 217.80 on strong earnings. Widely known for its graphics processors for PCs and gaming consoles, Nvidia also sells processors for cloud data centers, artificial intelligence applications and self-driving cars.

It’s tempting to chase a strong performer like Nvidia, but the stock is well-extended from a 174.66 buy point.

Nvidia was one of many solid performers in the IBD 50 . Other big gainers in the index of top-performing growth stocks included SiteOne Landscape ( SITE ), Monster Beverage (MNST), Universal Display (OLED) and Coherent (COHR) and Arista Networks (ANET), which showed gains ranging from 3% to 5%.

Leaderboard name Alibaba (BABA) also bucked the trend, rising 0.7% to 186.47. The company’s Singles Day shopping spree got underway in China and big numbers are expected, perhaps as high as $23 billion to $24 billion, compared to $17.8 billion last year.

Meanwhile, heavy volume rolled into human resources outsourcer TriNet Group (TNET). Shares hit an all-time high, rising 3% to 42.95. The stock gapped up Nov. 3 over a 41.68 buy point after reporting strong earnings. It held gains over the next several days and shares hit a new high Friday.

At the New York Mercantile Exchange, December-delivery U.S. crude oil futures settled at $56.74 a barrel, down 0.8% . The 10-year Treasury yield jumped 5 basis points to 2.39%.

The coming week is busy in terms of earnings reports from China, with results due from (JD), (WUBA), Tencent Holdings (TCEHY), (NTES) and YY Inc . (YY).


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