For the fourth day in a row, the S&P 500 index futures behaved the exact opposite in the regular as it did for most of the premarket session.
On Thursday, the index spent the majority of premarket session in the red while changing hands, but caught a sustained bid around 8:00 AM EST. The rally continued until 2:30 PM EST just as the index was approaching the high of Wednesday’ session.
Heading into the final hour, the index distanced itself from the intraday high and refused to give back a majority of its gains. For the session, the index added 33.50 handles at the closing price 4589.50.
Among the top components, Alphabet Inc. (NASDAQ: GOOG) was the biggest winner. The issue had its best day since late July, when it had an explosive rally following its Q2 beat. The catalyst for today’s stealth rally was the announcement that its Gemini AI, its most advanced AI model, was being integrated into Google’s chatbot Bard, currently available in English. For the session, the issue added $7.02 or 5.34%.
That was over four percent better than the cash index’s advance of 0.74%.
On the opposite end of the top components was Exxon Mobil (NYSE: XOM). The issue extended its losing streak to four sessions by declining $0.69 or 0.70% at the closing price of $98.42. That marks the lowest closing price for the issue since last October.