In an abbreviated session, the S&P 500 index futures traded in a very tight range (24.50), which is the smallest one in months. For the session, the index made a slight gain to close at 4034.25.
At one point in premarket trading, the index was much higher and nearly reached the standing high for the rebound, but came up just shy. The index ended up beginning the regular session in the red, but buyers stepped in at the premarket low and the muted rally was on.
The rally was halted at Wednesday’s high and meandered in the 4030 handle for most of the last two hours of the session. There was slight selling pressure in the last 15 minutes that attempted to prevent a new closing high for the move.
For the week, the index added 62 handles and closed in the upper portion of the 112 point range.
UnitedHealth Group Inc. (NYSE: UNH) was the biggest winner of the top components of the index. It was higher for the third day in a row, gaining $7.91 or 1.49% to close at $537.62.
That was much better than the flat session for the cash index.
More production concerns out of China made Apple Inc. (NASDAQ: AAPL) the biggest loser of the top components. The issue was unable to recover from its lower opening and declined by $3.96 or 1.96% to close at $148.11.
PreMarket Prep Stock Of The Day: Tesla Inc. (NASDAQ: TSLA)
Can Wednesday’s rally jumpstart a rally in the growth technology sector? Read more on TSLA here.