At one point during premarket trading, it appeared that the S&P 500 index futures were going to have a really good day. After 4:00 AM EST, it seemed that the exact opposite was going to happen.
However, during the regular session, neither took place. Instead, the index chopped around in between both the premarket high and low. Just before 1:00 PM EST, the index was poised to test the premarket high but failed. Following the not-guilty verdict of Kyle Rittenhouse, just before 2:00 PM EST, the index threatened to breach the premarket low but failed as well.
Heading into the final hour, the index struggled to retake the all-time closing high from Thursday (4701.50), and the selling intensified, perhaps from the results of options expiration. For the session, the index declined 6.75 handles to close at 4694.75.
Tesla Inc. (NASDAQ: TSLA) battled back to end the week after Musk’s selling barrage and finished the week in the green over $1000. It was again the biggest gainer of the top components of the index. For the session, it gained $40.68 or 3.7% to close at $1137.06.
UnitedHealth Group Inc. (NYSE: UNH) was the biggest drag on the index of the top components. For the session, it declined by $9.47 or 2.11% to close at $440.00.
PreMarket Prep Stock Of The Day: UWM Holdings Corp (NYSE: UWM)
Indecision in the C-Suite is not good for the long-term direction of a company’s share price. Read more about UWM here.