Key indexes closed mixed in the stock market today after paring gains in the last hour of trade. The Dow Jones Industrial Average stayed positive, thanks to Intel and Home Depot.
XThe Dow Jones industrials climbed 0.3% and the S&P 500 added 0.1%, but the Nasdaq slipped nearly 0.2%. Small caps tracked by the Russell 2000 gave up 0.3%. Unofficial data showed lower volume on the NYSE and Nasdaq vs. Thursday.
The stock market's finish was similar to the way it started the session: narrowly mixed. August nonfarm payrolls rose 130,000, well below forecasts for 163,000.
Still, the Dow Jones index rallied nearly 400 points, or 1.5%, for the week. The S&P 500 surged 1.7% and the Nasdaq composite, also 1.7%. That marked the Dow and S&P 500's first close above the 10-week moving average in six weeks — five weeks for the Nasdaq. All three indexes are now less than 3% away from record highs.
Intel (INTC), up 1.6%, was the biggest Dow Jones gainer. Shares have risen in eight of the past nine sessions. Baird on Wednesday reiterated an outperform rating and 65 price target after meeting with the chip giant's management, according to TipRanks.
Other Dow Jones stocks advancing 1% or more included Home Depot (HD). Home Depot hit a new high and is now slightly extended past a 219.40 buy point. Visa (V), up more than 1% earlier, trimmed its gain to 0.5%. The stock climbed past a 184.17 flat-base buy point Thursday. Volume both days was lackluster.
Oil Up, Gold Down
Discount retail, oil drillers and medical stocks were among the top industry group winners, while gold miners, software and nonalcoholic beverage stocks lagged.
ETFs tracking energy stocks were among the biggest winners in today's stock market. Energy Select Sector (XLE) rose 0.6%, while iShares U.S. Energy (IYE) added 0.4%. West Texas intermediate crude prices rose 0.5% to $56.48 a barrel.
But gold ETFs were lower as gold prices fell 0.8% to $1,513.70 an ounce. VanEck Vectors Junior Gold Miners (GDXJ) and VanEck Vectors Gold Miners (GDX) lost more than 2.5% each. They are now 8% and 7% off their respective 52-week highs. SPDR S&P Metals & Mining (XME) gave up 1.5%.
Lululemon Athletica (LULU), up 8% to a new high, led the IBD 50. The stock gapped up past a 194.35 flat base buy point in heavy volume. It remains in buy range from the entry. Late Thursday, the yogawear maker reported better-than-expected Q2 earnings, sales and same-store sales. It also boosted its full-year outlook.
China software player Baozun (BZUN) advanced 3% to retake its 50-day line. Shares are working on the right side of a double-bottom base with a 50.73 buy point.
But cosmetic medical devices maker InMode (INMD) sank 10%, after three straight days of big gains. The new issue broke out past a 23.83 buy point of an IPO base Wednesday. It's now just above the entry. InMode, which last month picked up pop star Paula Abdul as a brand ambassador, was featured in Wednesday's IBD Stock Of The Day column.
The Innovator IBD 50 ETF (FFTY) reversed to a 0.3% loss in the stock market today.
Follow Nancy Gondo on Twitter at @IBD_NGondo
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