In the most volatile session in months, the index swung back and forth, red to green to red and back to green as the index added 18 handles at the closing price of 4152.
During a nervous premarket session ahead of the CPI report, the index turned a slight gain into a slight decline. Off the better-than-expected April CPI reading, the index staged an impressive rally only to give it all back and then some.
Buyers finally made a stand around 2 PM EST and the index rebounded in a big way into the close.
Alphabet Inc. (NASDAQ: GOOG) was the biggest winner of the top components of the index. The issue reached its highest level since September by gaining $4.34 or 4.03% at the closing price of $112.28.
That was four times the cash index’s gain of 0.44%.
The sag in Crude Oil prices made Exxon Mobil (NYSE: XOM) the biggest loser of the top components of the index. For the session, the issue declined by $1.40 or 1.28% at the closing price of $107.74.