As much as the bulls ruled most of the week, it appears that a few bears have awakened from hibernation. Thanks to a duo of non-impressive earnings reports from the big guns Apple Inc. (NASDAQ: AAPL), Alphabet Inc. (NASDAQ: GOOG or GOOGL), the S&P 500 index futures spent very little time in the green for the session.
The bulls made an impressive stand off the opening bell, even after a hotter than expected jobs number and took the index beyond the highest close for the move, albeit briefly. Reality of the overall state of Q4 earnings season and the drop in unemployment set in just ahead of lunchtime.
As a result, the index drifted back towards the lows for the session, but did not breach it. The net result was a loss of 43.75 handles at the closing price of 4147.75. The bulls certainly won the week as the index tacked on 63.50 handles.
Apple Inc. (NASDAQ: AAPL) was the biggest winner of the top components of the index. For the session. In a red tape, the issue added $3.68 or 2.4% to close at $154.50.
That was over 3% better than the cash index’s decline of 1.04%.
By far, Amazon.com Inc. was the biggest loser of the top components of the index. For the session, the issue swooned $9.52 or 8.4%.