Bears who were looking for a continuation of yesterday’s retreat almost got their wish today. Following a steady rise in the S&P 500 Index Futures during the premarket session, the bears swooped in at the open, driving the index down for a quick gap fill (low of 4125.75). However, the bears were held at bay near yesterday’s close (4127.50) as buyers entered the market.
Following the dip off the open, the buying strength maintained a consistent pace, eventually achieving a new 12-day high of 4179. The bulls held the reins for the majority of the session, until a slight retreat into the close.
The day ended with the S&P 500 index futures gaining 48.50 handles or 1.18%, closing at 4171.50.
Among the top components of the index, Tesla Inc. (NASDAQ: TSLA) emerged as the biggest winner, advancing by 4.41% to close at 173.86. This comes right after its annual shareholders meeting yesterday where CEO Elon Musk announced, among other updates, that the company will try traditional advertising for the first time.
On the other hand, Apple Inc. (NASDAQ: AAPL) was the smallest winner among the top components, advancing by 0.36% to close at $172.69.