Futures Higher Ahead Of Jobs Report

The Dow Jones Industrial Average and other major stock indexes extended their gains Friday after a stronger-than-expected jobs report from the Labor Department. Two early movers on the stock market today were Nvidia (NVDA), which is approaching an early buy trigger, and Rivian Automotive (RIVN).

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Ahead of the opening bell, Dow Jones futures rose 0.6% vs. fair value, while S&P 500 futures climbed 0.8%. Tech-heavy Nasdaq 100 futures moved up 1.2% in early trading.

Early Friday, the 10-year Treasury yield ticked higher to 3.94%. Oil prices extended their gains, with West Texas Intermediate futures trading around $74 per barrel.

Among exchange traded funds, the Invesco QQQ Trust (QQQ) added 1.2%, while the SPDR S&P 500 ETF (SPY) rose 0.8% ahead of the open.

Nvidia stock rallied 1.7% Friday, further rebounding from its 50-day moving average and looking to extend a win streak to three sessions.  The stock has a 131.26 buy point from an irregular handle. Investors also could use the Sept. 26 high of 127.67 as a much smaller handle and an early buy trigger.

Meanwhile, Rivian Automotive plunged 6% after slashing its full-year production forecast and missing third-quarter delivery estimates.

Nvidia, Apple And Tesla Highlight How To Handle This Market

Stock Market Today: Jobs Report

Ahead of Friday’s stock market open, the Labor Department released its monthly employment report. The U.S. economy added 254,000 jobs in September, much higher than the 132,500 estimate and up from from August’s 142,000 jobs. The unemployment rate dipped to 4.1%. It was estimated to hold steady at 4.2%, per Econoday.

Fed policymakers have said they are keenly watching the labor market as they gauge future interest-rate decisions.

Broadcom Pulls Past Tesla As Amazon Locks Heads With Google

Best Stocks To Watch

On Thursday, the Dow Jones Industrial Average fell 0.4%, while the S&P 500 dipped 0.2%. The tech-heavy Nasdaq composite edged lower.

During Thursday’s IBD Live show, the IBD Live team discussed the current trading conditions and how investors should handle the new stock market volatility.

Among the best companies to watch on the stock market today are Arista Networks (ANET), Ryan Specialty (RYAN), Texas Roadhouse (TXRH), Toast (TOST) and Wingstop (WING).

Notable Dow Jones components are Amazon.com (AMZN), Amgen (AMGN), Apple (AAPL) and Microsoft (MSFT).

Amazon and Tesla featured in this Stocks Near A Buy Zone column.

There were no new stocks on IBD MarketSurge‘s “Breaking Out Today” list Thursday. Check for more names on the site’s “Near Pivot” list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.

Close, But No ‘Perfect’ Cigar For Nvidia, Broadcom. But Kudos To These 22 Gems.

Dow Jones: Amgen Shows Buy Point

Dow Jones biotech leader Amgen is building a flat base that has a 346.85 buy point, according to MarketSurge pattern recognition. Shares were down 0.6% early Friday.

Outside the Dow Jones index, Arista Networks is in a buy zone past a 376.50 buy point in a consolidation. Shares rose 1.3% Friday morning.

Insurance leader Ryan Specialty is in buy range above a 69.03 flat-base entry following this week’s breakout move. Shares added 1.4% Friday.

Texas Roadhouse is back at a 177.72 flat-base entry amid a recent rebound. Shares inched lower Friday.

Restaurant software provider Toast traded at its 27.88 buy point after Thursday’s rebound. The stock added 1.9% early Friday.

Finally, Wingstop topped a 431.03 entry last week, but is still below it following recent losses. The stock was up 2.1% in morning action Friday.

Find The Best Stocks To Buy And Watch With IBD Stock Screener And IBD Screen Of The Day

Stock Market Today: Companies To Watch

These are four stocks in or near buy zones in today’s stock market.

Source: IBD Data as of Sept. 30

Join IBD Experts As They Analyze Leading Stocks In The Stock Market Today On IBD Live

Magnificent Seven Stocks: Alphabet, Meta, Nvidia, Tesla

Among Magnificent Seven stocks, Alphabet (GOOGL) and Meta Platforms (META) traded up 1.4% and 0.7%, respectively, Friday.

Google stock is back above its 50-day line after recent gains, but has yet to offer a new buy point.

Meta stock hit a new high this week, further above a 544.23 alternate entry.

Tesla shares bounced 2% Friday morning, looking to snap a three-day losing streak. Shares are close to adding a handle to a cup base, which would move the buy point to 264.86.

Dow Jones Leaders: Amazon, Apple, Microsoft Eye Buy Points

Among Dow Jones components in the Magnificent Seven, Amazon shares are nearing a 195.37 buy point in a cup with handle. The stock gained 2.5% Friday.

Apple is close to a V-shaped cup with handle that shows a 232.92 entry. Shares rose 1% Friday morning.

Microsoft shares are testing support at their 50-day line and are near a 441.85 buy point in a cup with handle. And on Friday morning, the stock gained 0.9%.

Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.

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