Stock Market Today: Nasdaq Scratches Out Another Record Finish
The Nasdaq came out of a mixed day with yet another fresh high. More interesting were Friday's moves by IBM, Intel and GameStop.
A muted Friday for the broader stock market was much more interesting under the microscope.
The market received some good news in the form of readings from IHS Markit showing a decade-high level of manufacturing activity and expansion of services activity. That news was blunted by the nation's top infectious diseases expert, Dr. Anthony Fauci, who highlighted data showing that current COVID vaccines might not be as effective in curbing some mutated strains.
The Nasdaq Composite finished a modest 0.1% higher, good enough for a record close at 13,543. The Dow was clipped by 0.6% to 30,996, driven lower by International Business Machines (IBM, -9.9%), which reported disappointing quarterly revenues, and Intel (INTC, -9.3%), which popped yesterday after accidentally releasing its earnings before the closing bell, but yielded ground today.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Capturing much of Wall Street's attention, however, was GameStop (GME, +50.5%), which has rallied a wild 2,419% since April thanks to a mix of strong earnings, a transformative investor stake and the unraveling of bets against the stock. That helped the small-cap Russell 2000 violently rebound, with a 1.3% gain to a record 2,168.
Other action in the stock market today:
- The S&P 500 slipped 0.3% to 3,841.
- Gold futures dropped 0.6% to $1,855.70 per ounce.
- U.S. crude oil futures settled at $52.42 per barrel, a 1.3% decline.
- Bitcoin prices, at $31,902 on Thursday, rebounded 5.3% to $33,606. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
The Pros' Picks for 2021
The view from 10,000 feet is awfully different from the view on the ground.
The analyst community's broad-stroke convictions about what will work in 2021 are fairly uniform. Value stocks will finally have their day in the sun, they say, even if COVID lingers longer than hoped. Value-priced sectors, then, are also the rage: Financial stocks should win out, goes the logic. So too should oil and gas names.
But when you zoom in to the single-stock level, you'll find that many of the pros' favorite stocks for the year aren't all found in those favored niches.
We've highlighted 21 stock picks that stand out because of their high concentration of recent bullish 12-month calls, and our list is a mishmash of just about everything the market has to offer – large-cap health insurers, mid-cap tech plays, tiny health innovators and everything in between. Check them out!
Kyle Woodley was long Bitcoin as of this writing.
-
Should You Renew Your CD?With rate cuts impacting earnings, we examine if now is a wise time to renew CDs.
-
7 Ways to Plan Now to Save on Medicare IRMAA Surcharges LaterUnderstand the critical two-year lookback period and why aggressive planning before you enroll in Medicare is the most effective way to minimize IRMAA.
-
Law Reversal Looming? Trump Eyes 2026 Gambling Winnings Tax ChangeTax Deductions It's no secret that the IRS is coming after your gambling winnings in 2026. But how long will that last?
-
Stocks Slip to Start Fed Week: Stock Market TodayWhile a rate cut is widely expected this week, uncertainty is building around the Fed's future plans for monetary policy.
-
Crypto Trends to Watch in 2026Cryptocurrency is still less than 20 years old, but it remains a fast-moving (and also maturing) market. Here are the crypto trends to watch for in 2026.
-
If You'd Put $1,000 Into Coca-Cola Stock 20 Years Ago, Here's What You'd Have TodayEven with its reliable dividend growth and generous stock buybacks, Coca-Cola has underperformed the broad market in the long term.
-
If You Put $1,000 into Qualcomm Stock 20 Years Ago, Here's What You Would Have TodayQualcomm stock has been a big disappointment for truly long-term investors.
-
Risk Is Off Again, Dow Falls 397 Points: Stock Market TodayMarket participants are weighing still-solid earnings against both expectations and an increasingly opaque economic picture.
-
If You'd Put $1,000 Into Home Depot Stock 20 Years Ago, Here's What You'd Have TodayHome Depot stock has been a buy-and-hold banger for truly long-term investors.
-
Dow Adds 472 Points After September CPI: Stock Market TodayIBM and Advanced Micro Devices created tailwinds for the main indexes after scoring a major quantum-computing win.
-
Rally Fades on Mixed AI Revolution News: Stock Market TodayAll three main U.S. equity indexes opened higher but closed lower as a seven-session winning streak for the S&P 500 came to an end.
