Strength in energy stocks helped offset widespread selling among financial stocks. ^CVX^ closed higher by 1% and shares of ^XOM^ were up after pulling back for the past two days.
Among the financial stocks pulling back ahead of the final trading day of the week were credit card issuers like ^V^ and ^MA^. Shares of Visa fell by more than 12%, closing below their 200-day moving average for a second consecutive session. Three down days in a row have taken Mastercard back below its 200-day for the first time since rallying above that level in October.
Here are 7 Stocks You Need to Know for Friday.
A positive outlook trumped an earnings miss for traders in ^FDX^. The company reported quarterly earnings on Thursday, ending the session higher by more than 2%. The stock had pulled back for the two days leading into Thursday’s scheduled earnings announcement.
In addition to Visa and Mastercard noted above, shares of ^DFS^ (below) also came under significant selling on Thursday.
Importantly, unlike both Visa and Mastercard, the pullback in DFS has made the stock oversold above the 200-day moving average rather than below it.
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Up more than 7% after a four-day pullback into oversold territory are shares of ^LVS^.
Also up big from the group after an extended pullback were shares of ^WYNN^ (below).
WYNN closed higher by more than 4%, gaining for a second day after pulling back for nine straight days.
Profit-taking in ^FCX^ continued for a third straight session on Thursday. The stock closed at its most oversold since mid-November.
Closing lower for a third day in a row were shares of ^AXP^ (below) ahead of trading on Friday.
AXP has been trading above its 200-day moving average since the beginning of November and just recently closed at its highest level since the spring.
Shares of ^ORCL^ pulled back for a second day on Thursday ahead of the company’s scheduled earnings report after the bell.
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David Penn is Editor in Chief of TradingMarkets.com