U.S. stock futures fell early Friday morning as Wall Street eyed its best week since April even as the results of the presidential election remained unclear.

The three indexes notched their fourth-straight positive session on Thursday and were on track for their best week since April 9. The S&P 500 and the Dow are up 7% so far this week. The tech-heavy Nasdaq Composite has led the way with a nearly 9% gain. The sharp rally follows a slump in the prior week.

Victories by Republicans in several key Senate races, thus lowering the odds of a “blue wave” and potential higher taxes and stronger regulations, have been cited by Wall Street strategists as a reason for the rally in tech stocks. However, the Republicans have not yet won the necessary seats to control the Senate, according to NBC News projections, with two potential run-off elections in Georgia.

On the economic front, Friday will bring a fresh look at the labor market for investors, with the Labor Department’s October jobs reported scheduled to be released before the bell. The report comes on the heels of disappoint readings for ADP private payrolls and initial jobless claims.

Plan A : Long if market doesn't retrace much and supported firm above 3475. Targets are 3489, 3504 and 3525.

Plan B : Short if market failed to support above 3475. Targets are 3453, 3435 and 3412.
 

Stocks jumped on Thursday on hopes the winner of the U.S. presidential and congressional elections would soon be determined, with shares of major tech-related companies leading the gains.

The Dow closed 542.52 points higher, or 1.95%, at 28,390.18. Earlier in the day, the 30-stock average was higher by more than 600 points. The S&P 500 climbed 1.95% to 3,150.45 and the Nasdaq Composite advanced 2.6% to 11,890.93. Thursday also marked the first time since 1982 that the Dow and S&P 500 rose at least 1% in four straight sessions.

Those gains put the major averages on pace for their biggest weekly gains since April. The Dow was up 7.1% week to date. The S&P 500 and Nasdaq were up 7.4% and 9%, respectively, over that time period.

Facebook and Amazon both gained more than 2%. Netflix, Apple and Microsoft each closed more than 3% higher. Shares of Facebook have also gained 12% this week. Amazon and Apple have risen 9.4% and 9.3%, respectively, over that time period while Microsoft has popped 10.3%.

Investors in this high growth sector cheered a potential divided government as it likely means taxes won’t go up, antitrust scrutiny could stay in check and the China trade war doesn’t get any worse.

Elsewhere, the Federal Reserve said Thursday it kept interest rates unchanged near zero, noting the economy remained well below pre-pandemic levels. 

Plan A : Long if market doesn't retrace much and supported firm above 11980. Targets are 12011, 12037 and 12071.

Plan B : Short if market failed to support above 11980. Targets are 11945, 11901 and 11863.