The bulls had their moment when the S&P 500 index futures went in the green by 60 handles midday. The bears had their moment when the index erased all those gains and went in the red by 20 handles.
The end result was pretty much a stalemate as the index eked out a small gain of 7.50 handles at a closing price of 3978.
The bad news is that volatility reigns supreme, which is not symbolic of a market ratcheting higher. The good news is with all the turbulence, the index is still mildly in the green for the week. Of course, with the index’s tendency to make new highs or lows for the week on Fridays, the jury is still out.
For this to happen, the parameters are wide. On the downside, Monday’s low was 3897.25. On the upside, the high for the week made on Wednesday was 4073.75. In the absence of any news bombs, investors may have to endure another choppy session, with both the bulls and bears ending up frustrated.
Nvidia Corp (NASDAQ: NVDA) continued its torrid rally and was the biggest winner of the top components. The issue extended its winning streak to four sessions by adding $7.23 or 2.74 percent at a closing print of $271.91.
UnitedHealth Group (NYSE: UNH) was the biggest loser of the top components. For the session, the issue declined by $5.61 or 1.18% at a closing price of $469.91.
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