There were not many fireworks in Monday’s abbreviated trading session due to the markets being closed on Tuesday.
The bears made one weak attempt off the opening bell to incite a retreat but the bulls had nothing of it. After a minor breach of the premarket low, the index drifted higher for the remainder of the session.
Despite not making a new high for the year, the index did post its highest closing price for the year by gaining 4 handles at the closing price of 4492.25. That marks the highest closing price for the index since April 2022.
After beating Q2 delivery expectations by a wide margin, Tesla Inc. (NASDAQ: TSLA) was by far the biggest winner of the top components. For the session, the issue cruised up by $18.05 for a 6.9% gain. That marks the highest close for the issue since September.
That far exceeded the cash index’s slight gain of 0.12%.
Microsoft Corp. (NASDAQ: MSFT) continues to sit out the rally and was the biggest loser of the top components of the index. For the session, the issue declined $2.55 or 0.75% at the closing price of $337.99.
