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With several key economic indicators being released over the long weekend, there was sure to be an impact on the S&P 500 index futures once the market reopened.

As the overnight session commenced on Sunday, there was almost an immediate move up to new all-time highs, but the peak was found early on. Key inflation data over the weekend, including February’s PCE index (0.3% MoM vs. 0.4% exp.) and Core PCE (0.3% MoM vs. 0.3% exp.), indicated cooling inflation but failed to sustain the rally into Monday morning. The decline continued in the premarket, with support being found at Thursday’s closing level before the regular session open.

After the opening chop the decline continued once again, eventually settling under the 5300 area for the remainder of the regular session. The bulls tried for a late-day rally, but were denied in the closing minutes. The April Fools day session ended down by 13.25 handles at the closing price of 5295.25.

Alphabet Inc. (NASDAQ: GOOG) stood out as Monday’s leading performer among the index’s top components, securing a new all-time closing high with a $4.24 or 2.78% increase to close at $156.50.

That performance was over 2 percent better than the cash index’s decline of 0.17%.

Conversely, the biggest loser ended up being Eli Lilly And Co (NYSE: LLY). For the day, the issue declined by $17.41 or -2.24% to close at $760.55.