U.S. stocks finished marginally higher on Friday to set another round of record closes.

The S&P 500 rose 0.5% and finished the week with a gain of 1.2%. The major averages finished with modest gains for the week, as the strong rally to begin February has taken a slight breather. The S&P 500 fluctuated within 0.2% for three days in a row.

The market ground higher to notch records this month as investors remained hopeful for a smooth economic reopening as well as additional Covid stimulus.

Cyclical sectors, those most sensitive to an economic rebound, led the rally in February. Energy is up more than 13% month to date, with financials and materials also among the leading sectors.


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Futures contracts tied to the major U.S. stock indexes rose in extended trading Monday evening after finishing strong last week.

The U.S. stock market was closed on Monday for Presidents Day.

The tech-heavy Nasdaq Composite rose 1.7%. 

Easing fears across Wall Street are likely in large part thanks to the rollout of the Covid-19 vaccine, economic reopening and expectations for more fiscal stimulus.

Those so-called cyclical sectors, those most sensitive to an economic rebound, have led the rally in February. Energy is up more than 13% month to date, with financials and materials also among the leading sectors.

In corporate news, CVS Health, Occidental Petroleum, Palantir and others will report earnings on Tuesday.

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Plan A : Short if market failed to support above 13854. Targets are 13810, 13774 and 13733.

Plan B : Long if market supported firm above 13854. Targets are 13884, 13915 and 13946.