The three-day rally enabled the index to end a three-week losing streak. For the session, the cash index tacked on 61.18 handles or 1.53% to close at 4067.36, which brings the total for the week to 140.75 handles or 3.6%.
The premarket traders had it right. Off the 6:00 PM EST opening on Thursday night, the index came within one tick of unchanged and never looked back. The buyers off the opening of the regular session hardly took any head as well.
Once the index breached the premarket high, the pace of the rally accelerated. There was a mild round of profit taking into the close off the weekly high, which provides for a formidable resistance level for Monday’s premarket trading.
Meta Platforms Inc. (NASDAQ: META) made a rare appearance as the leader of the top components of the index. The issue extended its winning streak to three sessions by adding $7.1 or 4.4%.
That was nearly three times the cash index’s gain of 1.53%.
The one and only loser of the top components was UnitedHealth Group Inc. (NYSE: UNH). For the session, the issue declined by $3.17 or 0.60% to close at $524.34.
PreMarket Prep Stock Of The Day: Kroger Inc. (NYSE: KR)
Interesting price action in premarket trading and rare huge size being revealed was discussed following its Q2 beat. Read more on KR here.