Kicking off a big earnings week for the S&P 500 index, the index futures were not only able to gain back some of last week’s losses, but remained in the green for the entirety of Monday’s session.
The bulls were able to hold onto gains during premarket hours, but as has been the theme as of late, a selloff ensued nearly immediately after the regular session opened. The following selloff took the index futures nearly to unchanged, but support held strong just above Friday’s close and buyers began to step in.
The only major pause in the bull rally was at the premarket and intraday highs, after which the pace of the rally accelerated. The rally surged through Friday’s high, where it finally lost steam in the mid-5070’s. From there, sellers and profit-takers took control for the final hour. In the last 15 minutes of the regular session, the bulls were able to hold onto some gains, finally concluding the day at 5047.50, higher by 43.75 handles.
Among the top components of the index, NVIDIA Corp (NASDAQ: NVDA) emerged as the biggest gainer, recovering some of Friday’s losses. The chipmaker was able to gain $33.18 or 4.35% to close at $795.18 for the day.
That performance was over 4 times better than the cash index’s advance of 0.92%.
As there were no losers among top components, therefore the smallest winner was Meta Platforms Inc (NASDAQ: META). For the day, the issue advanced by $0.66 or 0.14% to close at $481.73.
