For the second time this week, warnings of potentially higher inflation from a current or former Federal Reserve governor have instigated a sharp decline in the S&P index futures intraday. On both occasions the index reacted in the same way.
On Monday, the index dipped under 4670 and rebounded as high as 4709.75 on Tuesday. In Thursday’s session, around 10:15 AM EST, it happened again and the index retreated under 4670 once again and rebounded to close the session at a new all-time closing high.
In a choppy and volatile session, the index added 14.75 handles to close at 4701.
Following a Q3 beat, Nvidia Corp (NASDAQ: NVDA) was the biggest gainer of the top components. The issue made a new all-time high and all-time closing high when it added $24.14 or 8.3% to close at $316.75.
That was 24 times the cash index’s gain of 0.34%.
The biggest loser of the top components was Johnson & Johnson (NYSE: JNJ). For the session, the issue declined by $0.88 or 0.54% to close at $162.40.
PreMarket Prep Stock Of The Day: Kohl’s Corp (NYSE: KSS)
Kohl’s Corp followed suit with so many other retailers with a Q3 beat and raised guidance. Read more about KSS here.