Going into the final ten minutes of the session, it appeared the S&P 500 index futures were going to have back-to-back inside days. However, the announcement that President Biden had made a trip change and decided to return to the U.S. on Sunday gave fodder for the bills to inflict some pain on the bulls.
During the last ten minutes of the session, the index fell out of bed and breached Monday’s low (4123) falling to 4120 a few minutes after the closing bell. The swift decline made the loss for the session 27 handles at the closing price of 4123.
Alphabet Inc. (NASDAQ: GOOG), once again, was the biggest gainer of the top components of the index. It has been higher in six of the last seven sessions, with the one outlier being a small decline of $0.30. For the session, the issue added $3.13 or 2.68% at the closing price of $120.09.
Warren Buffet’s partial sale of Chevron Corporation (NYSE: CVX) put pressure on the sector and made Exxon Mobil (NYSE: XOM) the biggest loser of the top components of the index. For the session, the issue declined by $2.55 or 24.3% at the closing price of $102.52. That extends its losing streak to five sessions.