In today’s session, it looked like the bears were in control until about 2pm, when the bulls drove the S&P 500 index up from its lows and achieved a new closing high for the latest move.
Big banks remained strong, other than State Street Corporation (NASDAQ: STT), which fell almost 9% after reporting worse-than-expected Q1 earnings per share (EPS) and sales. Traders and investors can look forward to more earnings announcements from Bank of America (NYSE: BAC) and Goldman Sachs (NYSE: GS) tomorrow before the market opens.
Most mega-cap tech stocks performed well, with NVIDIA (NASDAQ: NVDA), Microsoft (NASDAQ: MSFT), and Amazon (NASDAQ: AMZN) all ending the day in positive territory.
The S&P 500 index futures ended the day, adding 13 handles to close at 4176.75.
Among the top components of the index, Berkshire Hathaway Inc. Class B (NYSE: BRK.B) emerged as the biggest winner, advancing by 1.27% to close at $323.79.
This outpaced the cash index’s increase of 0.31%.
In contrast, Alphabet Inc. (NASDAQ: GOOGL) was the biggest loser among the top components, declining by 2.66% to close at $105.97.