The S&P 500 index futures kicked off the week with a bang, buoyed by reports over the weekend of the Trump administration softening its stance on tariffs. 

Sunday evening’s session started comfortably in the green, and the rally rolled on steadily through premarket hours, slicing through last week’s high with little resistance. After the opening bell, a brief wave of profit-taking hit, but the bulls weren’t fazed. They quickly powered back above the opening mark, then blasted past the premarket high. The upward surge met its first real test in the 5800s, where bulls grappled with the March 10 high. 

Afternoon profit-taking trimmed some gains, but the bulls regrouped in the final two hours, driving the index to a fresh daily peak. The session closed near that high at 5813, racking up a robust 94.75-handle gain. 

Looking towards macro news, this week will be packed with Fedspeak, building toward Friday morning’s inflation data release.

Among the index’s top components, Tesla Inc (NASDAQ: TSLA) roared to the top as the biggest gainer, riding last week’s momentum. The EV maker rocketed up $29.68, or 11.93%, to close at $278.39. 

That outstanding performance outshone the cash index’s healthy 1.79% advance by over six times, cementing Tesla’s hot streak.

On the downside, Broadcom Inc (NASDAQ: AVGO) took the title of biggest loser among top components. The chip designer slipped $0.41, or 0.21%, to close at $191.25.