Stocks faded into the close Friday as major stock indexes ended with modest losses. The Dow Jones industrials eased 0.1% after the blue-chip index came to within 44 points of its all-time high of 26,951 set in early October.
XStocks on the move in the Dow Jones today included UnitedHealth Group (UNH) and Exxon Mobil (XOM). Biotech stocks Incyte (INCY), Alexion (ALXN) and BioMarin (BMRN) outperformed in the Nasdaq 100.
The stock market traded quietly all day, not moving much in either direction, after President Trump called off retaliatory strikes against Iran following the downing of a U.S. drone.
The Nasdaq composite lost 0.2% and the S&P 500 edged lower by 0.1%. Small caps lagged badly, with the Russell 2000 down 0.9%. Preliminary data showed volume on the NYSE and Nasdaq coming in higher than Thursday in the stock market today. Options expired Friday, resulting in heavier volume
Growth stocks lagged with the Russell 2000. Innovator IBD 50 ETF (FFTY) slumped 1.7%, weighed down by weakness in Upland Software (UPLD), which surrendered 6.7%.
A couple of recent breakouts came under fire but damaged was limited. Lululemon Athletica (LULU) gave back 2.5%, but it's still holding above a 179.60 buy point. Advanced Micro Devices (AMD) slid 3% to 29.10. It reclaimed a 30.05 buy point Tuesday, but sellers were in the stock Thursday and again today.
Dow Jones Winners
UnitedHealth stock added 1.8% to 252.33, but it's still on a downtrend, with its 200-day moving average around 254.50 a potential resistance level to watch. Shares were strong after the company announced plans to acquire payments firm Equian for $3.2 billion.
Walmart stock picked up 0.8% to a new high. It's been performing well after a breakout over a 104.28 entry, but it's past the 5% buy zone now. Shares closed at 111.18.
Marijuana Stock Tumbles
In stock market news today, marijuana stock Canopy Growth (CGC) slumped 8% after the company reported wider-than-expected loss but another quarter of booming sales growth.
The weakness spilled over into other marijuana stocks, including Innovative Industrial Properties (IIPR), which cratered nearly 13%, snapping a seven-session win streak.
CarMax (KMX) was an earnings winner, up 3%. Headed into the report, the used-car retailer was near the top of the 5% buy zone from the 79.71 entry. It's risky buying a stock when it's extended more than 5% past a buy point.
Inside the IBD 50, PayPal (PYPL) lagged on news COO Bill Ready is stepping down at the end of year. Shares fell 2% to 116.21.
China-based New Oriental Education (EDU) outperformed in the IBD 50, up 1% to 94.59. It's working a cup-shaped base with a conventional entry of 98.09. But New Oriental's daily chart shows an earlier handle entry of 92.95.
Parsons (PSN), a member of the MarketSmith Growth 250, extended gains after a breakout from an IPO base with a 33.77 buy point. Shares closed at 37.69, up 5.5%.
Follow Ken Shreve on Twitter @IBD_KShreve for more market analysis and insight.
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