Following Tuesday’s explosive move to the upside, the index was able to maintain momentum until the closing bell.
While the index did have another strong burst upward following more positive inflation data at 8:30 AM EST, the regular session was greeted with more sellers than buyers.
The bears made one attempt to make it a red session post-lunch hour, but the index went only one tick in the red before catching a bid. The index vacillated in the 4520 handle, before closing on its lower end.
For the session, the index added 8.25 handles at the closing print of 4519.25. However, sour reactions to the earnings reports from Cisco Systems (NYSE: CSCO) and Palo Alto Networks Inc. (NASDAQ: PANW), made the last after hours print about five handles lower at 4514.
Tesla Inc. (NASDAQ: TSLA) was the biggest winner among the top components of the index for the second day in a row. Investors are favoring the issue ahead of its Cybertruck launch event on November 30. For the session, the issue added $5.43 or 2.29% at the closing price of $242.84.
This performance was over two percent better than the cash index’s advance of 0.16%.
In contrast, Eli Lilly and Co. (NYSE: LLY) was the biggest loser. There was no specific catalyst for the decline of $22.28 or 3.64% at the closing price of $588.54.