A strong end to the week on Friday led to a continuation move on Monday. The index spent very little time in the red during premarket trading and never even came close to unchanged during the regular session.
Led by a robust gain in its top component, Apple Inc., had the bulls in control from just minutes after the opening bell. Once the index breached the premarket high, sellers were sparse. Any intraday retreat was met with buyers.
A surge of buying in the last five minutes, which continued in the after-hours, enabled the index to close at the upper end of its daily range. For the session, the index added 43.50 handles to close at 4110.75.
That marks the highest close for the index since the “Powell Pain’ speech on August 26.
Apple Inc. (NASDAQ: AAPL) was the biggest gainer of the top components by a wide margin. For the session, the issue gained $6.06 or 3.9%.
That was over three times the cash index’s gain of 1.21%.
Being red by only a few pennies made Johnson & Johnson (NYSE: JNJ) the biggest loser of the top components. For the session, the issue declined by $0.07 or .04% to close at $165.64.
PreMarket Prep Stock Of The Day: Kroger Inc. JP Morgan Chase & Co. (NYSE: JPM)
Needs a catalyst to get out of the doldrums. Read more on JPM here.
