Stock rose on Friday as traders wrapped up a strong week amid decreasing political uncertainty and positive vaccine news.

The S&P 500 gained 0.3% to end the day at 3,638.35, notching a record closing high. The Nasdaq Composite advanced 0.9% to 12,205.85 and also closed at an all-time high. The Dow closed higher by 37.90 points, or 0.1%, at 29,910.37. Friday’s session ended at 1 p.m. ET.

Retailers led the early gains as investors bet on a strong holiday shopping season. The SPDR S&P Retail ETF (XRT) rose 0.9% and hit an all-time high. Etsy shares popped 10.7%, and Gamestop advanced 9%. Amazon shares gained 0.3%, and Shopify climbed 1.5% after Adobe Analytics said Thanksgiving Day online sales rose to a record $5.1 billion.
 

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Plan A : Short if market failed to support above 3600. Targets are 3572, 3549 and 3527.

Plan B : Long if market retraced but supported firm above 3600. Targets are 3617, 3631 and 3648.

Stock futures dipped in overnight trading on Sunday as the market looks set to finish November with historically strong gains.

Futures took a leg down after Reuters reported that the Trump administration is weighing blacklisting Chinese leading chipmaker SMIC as well as national offshore oil and gas producer CNOOC. The move would limit their access to American investors and escalate tensions with China before President-elect Joe Biden takes over.

Despite the overnight weakness, major equity averages are poised to wrap up a strong month. The blue-chip Dow has risen 12.9% so far this month, on pace for its best monthly performance since January 1987, as promising vaccine developments boosted confidence of a smooth economic reopening. The S&P 500 and the Nasdaq have climbed 11.3% and 11.9%, respectively, in November, both on track to post their biggest monthly advance since April.

Still, investors continue to monitor the coronavirus pandemic which has killed more than 266,000 people in the U.S. Dr. Anthony Fauci, the nation’s top infectious disease expert, said on Sunday that the U.S. is heading into a tough period of the pandemic in which restrictions and travel advisories will be necessary.
 

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Plan A : Short if market failed to support above 12141. Targets are 12100, 12059 and 12022.

Plan B : Long if market supported firm above 12141. Targets are 12168, 12203 and 12241

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Plan A : Remain buy as long as oil price trades firmly above 44.2. Targets are 45.4 and 46.2    

Plan B : Consider sell if oil price fails to hold above 45.4. Targets are 44.8 and 44.2

Gold
 

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.