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During the short session after the Thanksgiving holiday on ‘Black Friday’, the stocks managed to extend the recent rally. The S&P 500 and Nasdaq Composite reached fresh 4 1/2-year highs and retailers like Wal-Mart Stores and Best Buy got into focus as the Christmas shopping season got underway. Today, the market closed at 1 p.m. Commodities markets were closed, but stocks, foreign exchange, and Treasury’s markets were open.

The Dow Jones industrial average closed up 15.53 to 10,931.62, the broader Standard & Poor’s 500 index finished up 2.64 to 1,268.25, and the Nasdaq composite ended up 3.03 to 2,263.01. All three indices rose modestly, with the S&P 500 the biggest gainer. marking an eight-month high. For the holiday shortened week, the Dow rose 1.5%, the S&P 500 and Nasdaq Composite both notched up 1.6% gains.

Market breadth was positive. On the New York Stock Exchange, winners beat losers 18 to 12 on volume of 540 million shares. On the Nasdaq, advancers edged decliners with 14 advancing shares for every 13 declining stocks on volume of 680 million shares.

Retail sales were the focus of the day. The day after Thanksgiving, known as “Black Friday,” is traditionally seen as an important barometer for the strength of the holiday-shopping season. period.

Among the movers, electronics retailers Best Buy closed up $1.63 or 3% to $50.63, Circuit City finished up $0.51 to $21.38, and Apple (the maker of popular iPod) closed up $2.23 to $69.34. Among other retailers, Target Corp. rose 13 cents to $55.23, Kohl’s Corp. ended up 13 cents at $49.20 as Sears Holdings Corp. dropped $2.45 to $118.71.

Another big news was the delisting notice to Taser International by Nasdaq because its third-quarter report is delayed. The stock fell more than 12% to $6.48.

The recent rally could also be a cause of worry t the Bulls. Short sellers have also come out in full force lately. According to data from the New York Stock Exchange, short interest, or the number of shares that have been borrowed and sold short, hit a record for the second consecutive month. Short interest rose nearly 2% in November to 8.81 billion shares. This could also be a way for professional investors to hedge their bets, and so not necessarily a bullish or bearish sign.

After ‘Black Friday’ is the ‘Cyber Monday’. Americans are expected to spend one-third more online this year during Thanksgiving weekend, and much of that spending is expected to come Monday, which is called “Cyber Monday,” the day people get back to work, get on their fast computers and do their shopping. On Monday, 43% of online retailers plan to offer special promotions ranging from free shipping to free gifts to discounts. The Party has started - has it???????.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter