Skip to main content

The S&P 500 index futures once again experienced a downward trajectory during the premarket session, dropping nearly 30 handles at its lowest point. 

As the regular session got underway, the index initially continued its descent, but this dip was brief. The bulls quickly established a stronghold around the 4767 mark, marking a turning point in the day’s trading.

Mid-morning saw the index facing resistance, but the bullish momentum persisted, successfully pushing the futures back into positive territory shortly after lunch. However, this recovery was short-lived. The remainder of the afternoon saw the futures oscillating around the 4792 level, lacking a clear directional trend. The session closed around this area, culminating in a modest loss of 8.50 handles, ending at 4792.75.

Despite the overall index closing lower, NVIDIA Corp. (NASDAQ: NVDA) stood out as the biggest gainer among the top components for the third consecutive day. The semiconductor leader continued its impressive streak, climbing another $8.87 or 1.70%, reaching yet another all-time closing high at $531.40. 

This gain outpaced the cash index’s loss of 0.15% by nearly two percent.

In contrast, Tesla, Inc. (NASDAQ: TSLA) faced a significant setback, emerging as the session’s most substantial loser among the top components. The electric vehicle manufacturer’s stock tumbled by $5.49 or 2.28%, ending the day at $234.96, following news of the company lowering range estimates for its vehicles.