The S&P 500 Index Futures eked out a modest gain today, reflecting a day where both bulls and bears had their share of influence. The index hit a new high for the recent move at 4609.25, nearing this level on three distinct occasions throughout the session.
The day also saw multiple tests of support near the premarket high, with the intraday low reaching 4588.50. Despite the bears exerting their influence into the close, the regular session wrapped up slightly above the opening level, underscoring the tug-of-war between buyers and sellers. The index concluded the day at 4597, netting a gain of 9.25 handles.
Today’s choppy session can be attributed to mixed but mostly positive earnings announced in the morning, coupled with anticipation of more earnings due after the close. Notably, market participants were keeping an eye on Tesla Inc. (NASDAQ: TSLA) and Netflix Inc. (NASDAQ: NFLX). At the time of writing, NFLX is down approximately 6%, and TSLA has dipped about 2% in after-hours trading.
On the top component front, Amazon.com, Inc. (NASDAQ: AMZN) emerged as the biggest winner. The retail giant saw its stock price climb by 1.90% or $2.53, closing at $135.36.
This performance outpaced the cash index’s increase of 0.23% for the day.
Conversely, Alphabet Inc. (NASDAQ: GOOGL) ended the day as the biggest loser among the top components, extending its losing streak to three days. The tech behemoth experienced a decline in its stock price of 1.40% or $1.73, closing at $122.03.
