The bears were back on top Friday, being victorious in three of four sessions in the abbreviated week. After a complete reversal of Thursday’s late price action, the index battled back from lows early on in the regular session, only to falter once again. In fact, Friday’s rebound was much more muted than Thursday’s, as the index never even came close to going green.
Heading into the final hour, the index was unable to hold 4400 and went on to make a new low for the session, as well as the week. It had a slight rebound above 4400 earlier in the day, but finished lower by 34.75 handles at the closing price of 4389.
That snaps a five-week winning streak and brings the losses for the week to 68.25 handles.
Meta Platforms, Inc. (NASDAQ: META) was the only winner of the top components and therefore the biggest. For the session, the issue added $3.79 or 1.3% at the closing price of $288.67.
That was much better than the cash index’s decline of 0.79%.
Tesla Inc. (NASDAQ: TSLA) was volatile this week and the biggest loser of the top components on Friday, as well as one day earlier in the week. It ended Friday’s session in the red by $8.01 or 3% at the closing price of $256.60.