Following two out of three days of steep losses (152, 23.75, and 129.75 handles), the S&P 500 index futures had a green day by advancing 9.25 handles to 3996.25, but it was not so easy.
After having premarket gains of 78 handles evaporate, the index went in the red 24.50 handles before mounting a comeback. Unfortunately, investors that had bought the dip on Monday or wanted to lighten up ahead of Wednesday’s CPI number, were sellers into the rally that intensified in the final hour. As a result, the index posted back-to-back closes under 4000 for the first time since last April.
After a prolonged absence, Nvidia Corp (NASDAQ: NVDA) was the biggest winner of the top components of the index. For the session, the issue added $6.45 or 3.8 percent to close at $175.95.
That was nearly four times better than the cash index’s gain of 0.25 percent.
The biggest loser of the top components was Procter & Gamble (NYSE: PG). For the session, the issue declined by $0.85 or 0.55 percent to close at $154.76.
PreMarket Prep Stock Of The Day: Aurinia Pharmaceuticals Inc. NASDAQ: AUPH)
Moves higher off an earnings report as opposed to a drug announcement. Read more on AUPH here.