Once again, the S&P 500 index futures closing price (4469), lower by 108.25 handles, is no indication of how the index may trade in Friday’s session. Wednesday’s closing price (4577.25) was submarined by MetaPlatforms Inc. (NASDAQ: FB) disappointing Q4 report. In fact, the high for the day in the index made during the premarket (4548.25) was lower by nearly 30 handles from the mark.
However, Thursday’s close is 53 handles lower than the last after-hours print (4522), which was buoyed by a huge EPS beat by Amazon.com Inc. (NASDAQ: AMZN). Keep in mind at 8:30 AM EST, the government will release the jobs data for January. With the Street divided between multiple interest rate hikes this year or the economy slipping into a recession, the report may temper both points of view.
Notwithstanding the robust price action in the after-hours session, UnitedHealth Group (NYSE: UNH) was the biggest gainer of the top components of the index. The issue moved higher in sympathy with a big move to the upside in Humana Group (NYSE: HUM) by adding $8.99 or 1.87% to close at $488.77.
That was the polar opposite of the cash index which sank 2.44%.
By a wide margin, MetaPlatforms Inc. (NASDAQ: FB) was the biggest loser of the top components. The issue had one of its worst days ever by declining $85.24 or 26.4% following a Q4 miss.
PreMarket Prep Stock Of The Day: Snap Inc. (NYSE: SNAP)
The issue was able to clear the “low bar” set by MetaPlatforms and is trading sharply higher in after-hours trading. Read more about SNAP here.