Black Friday Rally, Dow, S&P, Nasdaq Move Higher As Russell 2000 Charges Forward -( $AAPL $AVGO $DV $EPRX $GOVX $INTC $LLY $MCD $META $NOK $OPEN $PLTR $RIO $SER $SOAR $SPY $TSLA Rise!)

Wall Street danced and some times ran through the holiday-shortened week like a shopper on Black Friday: determined, a bit fatigued at times, but still somehow spending freely once again as bargains seemed to be perceived to be most everywhere. The indices overall moved forward in celebratory fashion over the holiday, The Dow Jones Industrial Average closed at 47,716.42, closed up +4.29% over the last 5-days and the S&P 500 closed at 6,849.09, +4.75%, while the Nasdaq Composite closed at 23,365.69, +5.83% and the Russell 2000 charged forward to 2,500.43, +8.47% as investors rotated strongly to growth stocks as interest rates were once again believed to be headed to lower levels when the Fed meets again in December.

Macro tone

Macroeconomic data were thin but not irrelevant: small-business optimism ticked slightly lower, mortgage activity stabilized, and the holiday week’s light calendar kept attention pinned on the Fed and politics rather than hard numbers. The bigger macro story was expectations, not releases—markets spent the week repricing the odds of a December rate cut downward to the +80% level, as Fed officials’ rhetoric shifted from s, turning rate-cut euphoria into more of a sure bet.

Yields, shutdown and tariffs

Across the curve, Treasury yields ended with the 2‑year moving to 3.502% and the 10‑year to 4.018%. With the shutdown further in a rearview mirrors and our federal agencies scrambling to fully restart data releases, including key employment and inflation reports that may never be fully reconstructed the world moved on. On tariffs, the week produced more noise than action—markets continued to digest earlier rounds of measures and looming deadlines, but there were no fresh, market-moving tariff shocks, beyond ongoing trade rhetoric and sector-specific positioning ahead of 2026 supply-chain shifts.

Commodities

Commodities played their usual supporting role: crude oil edged lower on shifting narratives about 2026 oversupply, falling more than .49% over the last 5-days to finish the week to $58.55/bbl. Gold, $4,218.30/oz, +3.09% over the last 5-days and silver, $56.446/oz, +6.67%, both jumped, with investors treating the metals as modest insurance rather than a full-throated safety trade, while Bitcoin, $91,187.88 continued to nurse losses from its recent “Great Crash of 2025,” trading well below the psychologically important six-figure mark as outflows from major spot products kept pressure on crypto sentiment.

Eli Lilly, chips and jumbo-cap tech

Eli Lilly ($1,075.47, +3.08% over the last 5-days) extended its reign as health-care royalty, rallying around 10% for the week as investors cheered its obesity franchise and a pricing agreement with the Trump administration that eased some policy overhang while still preserving rich long-term growth assumptions. The stock’s strength helped make health care one of the week’s standout sectors, even as broader defensives like utilities and staples treaded water.

NVIDIA (NVDA, $177, -2.02% over the last 5-days) spent the week in the spotlight for both good and bad reasons: early gains tied to revived AI enthusiasm and a late-week rebound were offset midweek when news that SoftBank had exited its stake and Fed hawkishness pressured high-multiple chip names, leaving the stock volatile but emblematic of the market’s “can we still pay this much for AI?” debate. Apple (AAPL,$278.85, +4.73% over the last 5-days) outperformed much of Big Tech after comments from President Trump on progress toward a trade deal with India—one of its key manufacturing hubs—buoyed expectations for smoother supply chains, even as the broader mega-cap complex oscillated between profit-taking and dip-buying.

Tesla (TSLA, $430.17, +8.84% over the last 5-days). Broadcom in and AI concert with the chip complex—benefiting when semis rallied on AI optimism and stabilizing when yields backed off and rose +16.19% TO $402.96 over the last 5-days. Meta Platforms (META) rose +9.98% to $647.95 as advertising trends remain broadly supportive and AI spending continues.

Nokia, McDonald’s, Rio Tinto and Oracle

Nokia (NOK, $6.08, +3.58% over the last 5-days) remained in the headlines through its deepening relationship with Nvidia on AI networking and infrastructure, including a previously announced multi-hundred-million-dollar investment that positions the Finnish vendor as a leveraged beneficiary of carrier and cloud AI build-outs. McDonald’s (MCD, $311.82) rose +2.52% over the last 5-days) as investors weighed its defensive cash-flow appeal against the headwind of rising real yields and persistent concerns about consumer trade-down.

Rio Tinto Group (RIO, $71.95, +4.61% over the last 5-days) tracked the global growth and metals narrative, with its shares buffeted by worries over Chinese demand and longer-term decarbonization metals demand, but no blockbuster, company-specific catalyst in the holiday week beyond ongoing commentary on iron ore and copper markets. Oracle (ORCL) dropped 4.15% to $201.95 this week.

Intel, OKLO, Opendoor and Palantir

Intel (INTC) rose +20.64% to $40.56 this week & continued its rehabilitation story, leading the broader semiconductor complex as investors balanced near-term PC and data-center headwinds against long-horizon bets on its foundry ambitions and U.S. onshoring incentives. OKLO ($91.38, +3.84%)—the advanced nuclear power developer that has captured attention as a listed small-cap—remained tethered to broader nuclear and energy headlines rather than company-specific fireworks, with sentiment still linked to expectations for new reactor approvals and long-cycle government-backed contracts.

Opendoor Technologies (OPEN , $7.70) jumped +25% over the last 5-days stayed a high-beta proxy for U.S. housing sentiment and mortgage rates, with its shares whipping around as investors recalibrated the path of Fed cuts and the likely pace of housing turnover in 2026; the week’s modest back-up in yields did little to ease concerns about the company’s sensitivity to volume and spread volatility. Palantir Technologies (PLTR) enjoyed a sharp early-week pop, rallying 8.16% to $168.45 and recapturing its 50‑day moving average as part of the broader AI complex, underscoring that in this tape, “AI plus government contracts” remains one of the more durable equity narratives, even if daily moves remain volatile.

VP Watchlist Updates

Modular Medical, Inc. (Nasdaq: MODD., $.3943), a leader in innovative insulin delivery technology targeting the $3 billion adult “almost-pumpers” diabetes market with user-friendly, affordable patch pumps, today (Nov. 17) announced Institutional Review Board (“IRB”) approval to conduct an in-house study of its next-generation Pivot™ insulin delivery system using insulin on people with diabetes (the “Study”). Pursuant to U.S. Food and Drug Administration (“FDA”) regulations, an IRB is a group that has been formally designated to review and monitor biomedical research involving human subjects. The Study will simulate real-world conditions by delivering insulin to adult participants to gather critical data on device function and usability and obtain user feedback. Modular Medical’s Pivot tubeless patch pump aims to enhance accessibility for underserved patients with diabetes and drive market penetration and expansion. On Nov. 14, Modular Medical announced the 510(k) premarket submission of its next generation Pivot™ tubeless patch pump to the U.S. Food and Drug Administration (the “FDA”). The Company expects to commence the commercial launch of its Pivot pump in Q1 2026. On Nov. 3, Modular Medical the successful validation of its Pivot controller line, a critical milestone in preparing for the commercial launch of its Pivot patch pump targeted for Q1 2026. The Pivot controller line validation further demonstrates manufacturing readiness for high-volume production, positioning Modular Medical to meet the growing demand in the diabetes treatment market for advanced technology.

Eupraxia Pharmaceuticals Inc. (NASDAQ: EPRX, $6.21, +0.0% over the last 5-days), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology to optimize local, controlled drug delivery for diseases with significant unmet need, announced (Nov. 13) the second set of 52-week follow up data from its ongoing Phase 1b/2a RESOLVE trial evaluating a single administration EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). James A. Helliwell, Chief Executive Officer of Eupraxia stated, “These data further highlight the strong durability and tolerability profile of EP-104GI, reinforcing its potential to become a convenient, once-a-year treatment that fits seamlessly into routine disease management by aligning with annual patient endoscopies. The Cohorts 5 & 6 patients – the only groups to have reached 52 weeks in the trial – are demonstrating levels of symptom relief that is durable and clinically meaningful – we are very encouraged by this outcome. We’re also pleased that our previously announced 52-week data were presented as a late-breaking presentation at the American College of Gastroenterology Annual Scientific Meeting (ACG). These new results build on that momentum. Given that current EoE therapies often struggle with long-term adherence, we believe a durable, once-yearly treatment could meaningfully improve patient outcomes and establish EP-104GI as a preferred option for both physicians and their patients.”

GeoVax Labs, Inc. (Nasdaq: GOVX, $.4111. +2.52% over the last 5-days), a clinical-stage biotechnology company developing multi-antigen vaccines and immunotherapies for infectious diseases and cancer, reported (Nov. 13) its financial results for the quarter ended September 30, 2025, and provided a business update highlighting key corporate and clinical advancements across its vaccine and oncology programs. David Dodd, CEO of Geovax stated, “As highlighted in this report, during the third quarter GeoVax continued making important progress, advancing innovative vaccines and immunotherapies that address urgent and underserved medical needs. With continued global Mpox spread and constrained vaccine supply, our GEO-MVA program represents a U.S.-based, scalable, next-generation MVA platform. Our EMA and BARDA-aligned program position GeoVax to accelerate regulatory readiness and commercial entry. For our GEO-CM04S1 COVID-19 vaccine program, recent clinical presentations validate our belief that multi-antigen vaccines – expressing both spike and nucleocapsid – are essential for breadth and durability in vulnerable immunocompromised populations. In particular, the robust immune responses demonstrated in Chronic Lymphocytic Leukemia (CLL) patients represents a meaningful step forward in addressing the unmet needs of over 40 million immunocompromised Americans. In our Gedeptin(R) oncology program, the expansion into multiple solid tumor indications builds upon a growing recognition that tumor-targeted immune priming can dramatically improve checkpoint outcomes. We are executing a clear path to clinical and commercial value creation. GeoVax continues to execute with purpose and discipline. Our multi-antigen vaccine and immunotherapy platforms position the Company squarely within the national call to strengthen America’s health security, expand domestic manufacturing, and deliver equitable global solutions.”

Volato Group, Inc. (NYSE American: SOAR, $1.335, +24.77% over the last 5-days) and M2i Global, Inc. (MTWO, $.10, +.10% over the last 5-days), a company specializing in the development and execution of a complete global value supply chain for critical minerals, announced on Nov. 19 that Nimy Resources (“Nimy”) and M2i will collaborate with the aim of forming commercially binding contract terms for the respective sale and purchase of gallium production. They also announced (Oct. 16) the next phase of development of the digital and commercial infrastructure underpinning the U.S. Strategic Mineral Reserve (SMR). M2i initiated the SMR framework and technical specifications earlier this year. Volato is now applying its proven enterprise-software expertise to build and operationalize the secure technology backbone that will support critical mineral traceability, contracting, and compliance across the United States and allied nations. This infrastructure is being developed to serve as the market-facing layer of the U.S. Strategic Mineral Reserve initiative, providing miners, refiners, recyclers, manufacturers, and government entities with a trusted environment for physical critical mineral transactions—with verified provenance, end-to-end custody visibility, and regulatory compliance at its core.

Serina Therapeutics (NYSE American: SER, $4.26, +13.30% over the last 5-days) stands at a pivotal juncture as it harnesses fresh capital, regulatory momentum, and a sharpened communications strategy to propel its lead program, SER-252, into late-stage clinical testing for advanced Parkinson’s diseas. The Alabama-based biotech is betting its proprietary POZ platform and reimagined approach to apomorphine delivery may redefine the treatment paradigm for patients who have e96xhausted standard oral therapies.

The InterGroup Corporation (NASDAQ: INTG, $29.) reported (Nov. 17) results for the three months ended September 30, 2025. John V. Winfield, Chairman and Chief Executive Officer, said: “We continue to observe signs of stabilization and recovery across the San Francisco hospitality market, including improving convention calendars, tourism indicators, and business travel activity. On the investment side, our marketable securities activity remained modest with a small net gain, consistent with our emphasis on liquidity and risk discipline.”

Nokia (NOK, $6.08, +3.58% over the last 5-days) is promising investors a sleeker, AI‑age version of itself by 2028, aiming to lift profits by as much as 60% while quietly admitting that the road there runs through a restructuring zone.

Opendoor Technologies Inc. (OPEN, $7.70, +25% over the last 5-days) a digital red estate disruptor, jumped higher as the belief that interest rates would be cut in December rose significantly.

DoubleVerify Holdings Inc. (DV) closed at at $10.54, +3.33% over the last 5-days. DoubleVerify Holdings is a software company that helps advertisers verify and improve the quality and performance of their digital ads across the web, apps, social platforms, and connected TV. DoubleVerify provides a digital media measurement and analytics platform that checks whether ads are viewable, shown to real people (not bots), served in brand‑safe environments, and delivered in the right geography. Its tools give advertisers independent, third‑party data so they can reduce ad fraud, avoid unsafe content, and get better return on their digital ad spend. DoubleVerify primarily earns revenue by charging advertisers, agencies, and platforms based on the volume of media it measures (such as impressions or transactions). Its technology is integrated with major ad platforms and programmatic exchanges, and is used globally by brands, marketplaces, and publishers to monitor and optimize campaigns.

Macro tone

Yields, shutdown and tariffs

Commodities

Eli Lilly, chips and jumbo-cap tech

Nokia, McDonald’s, Rio Tinto and Oracle

Intel, OKLO, Opendoor and Palantir

VP Watchlist Updates

Sources

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