The S&P 500 index futures are sometimes extremely volatile and sometimes they are not. Over the past seven sessions, the index has been in a well-defined trading range from 4071.50 (last week’s low) and 4202.25 (last week’s high). As we all know, the vast majority of the choppy price action has been between 4100 and 4150.
All the index did was give back Tuesday’s gains by ending the session lower by 44.75 handles at 4114. Unfortunately, we may see more of the same on Thursday ahead of the release of the May Consumer Price Index Data on Friday at 8:30 AM EST.
Tesla Inc. (NASDAQ: TSLA) was the biggest gainer of the components of the index. For the session, the issue gained $8.94 or 1.25 percent to close at $725.60.
That was just over 2 percent better than the cash index’s decline of 1.08 percent.
The sneaky rotation from growth to value made Berkshire Hathaway Class B (NYSE: BRK.B) the biggest loser. For the session, the issue declined by $4.66 or 1.49 percent to close at $308.99.