Friday’s price action in the S&P 500 index futures was much more analogous to Wednesday’s than Thursday’s. The premarket decline was followed by a premarket rally past unchanged. The decline following June jobs data established the ultimate low for the session (3868).
The bears were gunning for that low off the opening of the regular session, but buyers stepped in ahead making the intraday low a few handles above that. That paved the way for a rally to a new high for the week, but those gains evaporated.
That set the stage for the post-lunch rally which stalled just above the intraday high and reversed course once again. The mild retreat in the final hour nudged the index to a slight decline of 3.75 handles at 3901.25.
The index had a good week by adding 74 handles or 1.9%.
Tesla Inc. (NASDAQ: TSLA) was the biggest gainer of the top components for the second day in a row. For the session, the issue added $18.66 or 2.54% to close at $752.29.
That was much better than the cash index’s slight decline of 0.1%.
Meta Platforms Inc. (NASDAQ: META) was the biggest loser of the top components of the index. The issue declined by $1.31 or 0.76% for the session to close at $170.88.