The S&P 500 touched a new record on Thursday, joining the Dow Jones Industrial Average in wiping out a two-month swoon amid strong profits and year-end optimism.

The S&P 500 rose 0.3% to notch a record close of 4,549.78. It also hit an intraday high of 4,551.44.

Tesla helped lift the S&P 500 after strong earnings from the electric vehicle maker. The S&P 500 has mounted a comeback this month as booming profit reports trumped worries about inflation and a potential end to Federal Reserve bond buying. The S&P 500 is now up 1.75% for the week and 5.62% on the month.

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U.S. stock futures were lower in early morning trading Friday after disappointing earnings reports from technology companies.

In Thursday’s regular session, the Nasdaq Composite rose 0.6%.

Strong jobs data also added to the positive market sentiment. Initial jobless claims fell to a new pandemic low of 290,000 last week, the Labor Department reported Thursday — down 6,000 from the previous week and lower than the 300,000 expected from economists surveyed by Dow Jones.

Investors await earnings reports Friday from companies including American Express, Honeywell, Schlumberger and Cleveland-Cliffs.

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Plan A : Remain buy as long as oil price stays above 82.2. Targets are 83.5 and 85.0.

Plan B : Consider short if oil price trades below 83.5. Targets are 82.2 and 81.4.