The Dow Jones Industrial Average saw minimal gains on Friday, while Dell Technologies took a significant hit in the stock market after issuing a disappointing outlook. The release of the Federal Reserve's preferred measure of inflation, the Personal Consumption Expenditures (PCE) price index, also influenced market movements.

At the opening bell, the Dow Jones Industrial Average rose by less than 0.1%, with the S&P 500 experiencing a slight decrease. The Nasdaq composite, which focuses on technology stocks, lost 0.3% during morning trading. Additionally, the 10-year Treasury yield slipped to 4.51%, and oil prices climbed as West Texas Intermediate futures traded around $78.20 a barrel.

Among U.S. exchange-traded funds, the Invesco QQQ Trust fell 0.3%, while the SPDR S&P 500 ETF inched lower. Inflation data from the Commerce Department's personal income and outlays report reflected a 0.3% rise in the PCE price index for April, meeting Econoday estimates. The core PCE price index, excluding volatile food and energy prices, also met Econoday's forecasts, increasing by 0.2% in April with a year-over-year increase of 2.8%.

Dell Technologies took a significant hit, with its stock plunging 19% in response to a disappointing forecast. The company, however, managed to meet Wall Street's earnings target for its fiscal first quarter, thanks to higher-than-expected sales. Meanwhile, other major earnings movers on Friday included Costco, Gap, MongoDB, NetApp, SentinelOne, and Ulta Beauty.

Costco shares experienced a 1% decline in early trading, while Gap stock soared 20% higher. MongoDB shares plummeted nearly 23%, NetApp rose by 1.3%, SentinelOne plunged 25%, and Ulta Beauty surged nearly 6% during morning trading.

The previous trading day saw the Dow Jones industrials drop by nearly 0.9%, accompanied by a decline of 0.6% in the S&P 500 and a 1.1% loss in the Nasdaq composite. Salesforce emerged as the biggest loser in the Dow Jones index, contributing to a decline of more than 352 points.

Investors are advised to stay informed about changing market conditions and consult IBD's new exposure levels to adjust their strategies accordingly. The Big Picture column from Investor's Business Daily provides valuable insights into the ongoing stock market action.

Several stocks, including Birkenstock, Netflix, Robinhood Markets, TJX, as well as Dow Jones components Apple, Merck, and Microsoft, are worth monitoring in today's stock market. Microsoft's stock is trading below a buy point of 430.82, and Merck is building a flat base with a potential entry point at 133.10.

Outside of the Dow Jones index, Birkenstock experienced a significant breakout, surging nearly 12% and surpassing the 55 buy point of a cup base. Netflix, on the other hand, lost 1.1%, remaining above the 639 cup entry. Robinhood broke out past a handle entry of 21.21 with a 3.6% gain, while TJX regained a double-bottom entry of 102.04, rallying 1.9%.

These stocks are showing promising signs as they approach or reside within their buy zones. Investors should stay tuned for further updates and market developments throughout the day.