While the S&P 500 index futures had no three-day win streaks in the entire month of September, it has achieved at least one this month. Early indications from premarket trading was the index was going to green for the session as it spent almost the entire premarket session in the green.
After defending the premarket low early in the session, the pace of the rally accelerated once the premarket high was breached with ease. The continuation rally took the index into the low 4400’s for the first time since September 2.
During the lunch hour, the index peaked at 4419 and tapered off into the close. In the final hour, the index traded in a narrow six-handle range as investors squared up ahead of the upcoming inflation reports on Wednesday (Producer Price Index) and Thursday (Consumer Price Index).
The end result was a gain of 22.75 handles at the closing price of 4391.50.
Among the top components of the index, Tesla Inc. (NASDAQ: TSLA) was the biggest winner. After a lower open, the issue caught an immediate bid and gained $4.05 or 1.6% at the closing price of $263.62.
That performance was over one percent better than the cash index’s advance of 0.52%.
Conversely, UnitedHealth Group Inc. (NYSE: UNH) was the biggest loser. The issue snapped a four-day win streak by falling $2.27 or 0.43% at the closing price of $524.24.