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Stock Market Live November 28: S&P 500 (SPY) Running Higher on Black Friday

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Following a significant pullback in Bitcoin, the digital currency could potentially soar back above $100,000, according to analysts at BTIG.

After a -36% peak-to-trough decline, we think Bitcoin is now poised to continue its reflex rally at least back towards 100k,” BTIG said, as quoted by CNBC.

If that’s the case, investors may want to pay close attention to Bitcoin-related stocks, too, including Strategy (NASDAQ: MSTR), MARA Holdings (NASDAQ: MARA), and Riot Platforms (NASDAQ: RIOT).

Happy Holidays to you and yours!

As we get ready to jump into the final month of 2025, S&P 500 futures are rallying.  Up about 11 points, it’s getting set to wrap up what’s been a very volatile month. Meanwhile, the SPDR S&P 500 (SPY) is up about $1.65 this morning. The Dow Jones is up about 53, with the NASDAQ up about 72.

Granted, we had a rough start to the day. All after CME trading came to a standstill following a cooling issue at one of its data centers. But all is back to normal now.

“Due to a cooling issue at CyrusOne data centers, our markets are currently halted. Support is working to resolve the issue in the near term and will advise clients of Pre-Open details as soon as they are available.” CME Group in a statement.

Shoppers Drive $36 Billion Thanksgiving Sales

Globally, consumers pushed online spending up about 8% to $13.1 billion on Thursday. All of which could help set up massive potential spending for Black Friday. In fact, online sales are expected to reach about $36 billion by the end of the holiday, according to Salesforce estimates.

As noted by Investing.com, “Black Friday, which is the biggest day of the year for online shopping, is expected to drive $78 billion in online global sales and $18 billion in the U.S.”

As noted by Adobe Analytics:

  • U.S. online sales for the 2025 holiday season (November 1 to December 31) are forecast to be $253.4 billion, a 5.3% growth compared to the previous year.
  • Cyber Monday sales are expected to come in around $14.2 billion.
  • Black Friday sales are expected to be about $11.7 billion.
  • And Cyber Week is expected to account for $43.7 billion in sales.

One of the most obvious beneficiaries of online sales is Amazon (NASDAQ: AMZN). 

Remember, in most years, Amazon is a no-brainer stock to buy and hold for the holiday rush. In fact, except for 2022, the e-commerce giant has historically pushed higher heading into the holidays, which we expect to happen again this year.

Bitcoin Could Really Back Above $100,000 

After a vicious pullback in Bitcoin, the digital currency could soar back above $100,000, according to analysts at BTIG.

“After a -36% peak-to-trough decline, we think Bitcoin is now poised to continue its reflex rally at least back towards 100k,” BTIG said, as quoted by CNBC.

If that’s the case, investors may want to pay close attention to Bitcoin-related stocks, too, including Strategy (NASDAQ: MSTR), MARA Holdings (NASDAQ: MARA), and Riot Platforms (NASDAQ: RIOT)

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