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US open: Dow Jones on track for winning week, Nvidia weighs on Nasdaq

(Sharecast News) - Wall Street trading got off to a mixed start on Friday, with the blue-chip Dow Jones on track for a winning week. As of 1515 GMT, the Dow Jones Industrial Average was up 0.52% at 44,099.67, while the S&P 500 advanced 0.13% to 5,956.64 and the Nasdaq Composite came out the gate 0.20% weaker at 18,933.97.

The Dow opened 229.32 points higher on Friday, extending solid gains recorded in the previous session.

Nvidia was still in focus early on Friday following the AI darling's Q3 earnings release earlier in the week, with it and other tech giants Meta Platforms and Alphabet trading lower at the open and weighing on the Nasdaq.

Bitcoin was also drawing an amount of investor attention at the open, with the benchmark cryptocurrency hovering near the psychologically important $100,000 mark.

On the macro front, a preliminary reading of S&P Global's November manufacturing PMI increased to 48.8 points in November, up from 48.5 in October, while the services PMI increased to 57 points, up from 55 a month earlier. As a result, S&P's composite PMI rose to 55.3, up from 54.1.

Elsewhere, the University of Michigan's consumer sentiment index was downwardly revised to 71.8 in November from a preliminary reading of 73 but remained the highest reading seen in the last seven months.

In the corporate space, shares in clothing retailer Gap were more than 10% higher at the open after it raised full-year sales guidance on the back of a Q3 earnings beat.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Johnson & Johnson (JNJ) $155.86 0.23% Apple Inc. (AAPL) $228.52 0.00% McDonald's Corp. (MCD) $288.83 0.00% Boeing Co. (BA) $143.68 0.00% Intel Corp. (INTC) $24.44 0.00% International Business Machines Corporation (CDI) (IBM) $223.74 0.00% Travelers Company Inc. (TRV) $260.39 0.00% Goldman Sachs Group Inc. (GS) $596.88 0.00% Walgreens Boots Alliance, Inc. (WBA) $8.30 0.00% Walmart Inc. (WMT) $89.11 0.00%

Dow Jones - Fallers

Unitedhealth Group Inc. (UNH) $595.72 -0.30% 3M Co. (MMM) $127.10 -0.17% Visa Inc. (V) $309.54 -0.12% Caterpillar Inc. (CAT) $389.18 -0.11% McDonald's Corp. (MCD) $288.83 0.00% Walgreens Boots Alliance, Inc. (WBA) $8.30 0.00% Walmart Inc. (WMT) $89.11 0.00% Goldman Sachs Group Inc. (GS) $596.88 0.00% Intel Corp. (INTC) $24.46 0.00% International Business Machines Corporation (CDI) (IBM) $223.74 0.00%

S&P 500 - Risers

Gap Inc. (GAP) $24.66 11.87% Copart Inc. (CPRT) $59.79 5.08% Tapestry Inc. (TPR) $59.14 4.84% Macy's Inc. (M) $15.74 4.45% Kohls Corp. (KSS) $17.01 3.72% Nektar Therapeutics (NKTR) $1.04 3.47% Under Armour, Inc. (UA) $8.70 3.26% Under Armour Inc. Class A (UAA) $9.53 3.19% PVH Corp. (PVH) $102.33 2.89% Foot Locker Inc. (FL) $23.09 2.85%

S&P 500 - Fallers

Intuit Inc. (INTU) $659.24 -2.87% Albemarle Corp. (ALB) $106.75 -2.05% Alphabet Inc. Class A (GOOGL) $165.20 -1.45% Alphabet Inc. Class C (GOOG) $167.04 -1.30% United Airlines Holdings Inc (UAL) $93.20 -1.27% Microchip Technology Inc. (MCHP) $65.71 -1.20% Revvity, Inc. (RVTY) $109.94 -1.05% Bristol-Myers Squibb (BMY) $57.68 -0.94% Keysight Technologies Inc. (KEYS) $168.99 -0.84% Thermo Fisher Scientific Inc. (TMO) $511.80 -0.83%

Nasdaq 100 - Risers

Qurate Retail Inc. (QRTEA) $0.39 4.65% Ross Stores Inc. (ROST) $148.97 4.20% eBay Inc. (EBAY) $62.41 1.63% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $342.98 1.24% O'Reilly Automotive Inc. (ORLY) $1,219.17 1.20% Costco Wholesale Corp. (COST) $965.74 1.06% Mercadolibre Inc. (MELI) $1,988.56 1.04% Sirius XM Holdings Inc (SIRI) $26.03 1.01% Tesla Inc (TSLA) $342.69 0.90% Dollar Tree Inc (DLTR) $66.32 0.85%

Nasdaq 100 - Fallers

Intuit Inc. (INTU) $659.24 -2.87% Baidu Inc. (BIDU) $79.92 -2.09% Alphabet Inc. Class A (GOOGL) $165.20 -1.45% Trip.com Group Limited (TCOM) $64.28 -1.37% Vodafone Group Plc ADS (VOD) $8.72 -1.36% Alphabet Inc. Class C (GOOG) $167.04 -1.30% Microchip Technology Inc. (MCHP) $65.71 -1.20% NetEase Inc. Ads (NTES) $87.93 -0.80% Meta Platforms Inc. (META) $559.01 -0.72% Comcast Corp. (CMCSA) $43.22 -0.66%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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