Monday’s session in the S&P 500 index futures was a rollercoaster, with fierce back-and-forth action barely extending a five-day win streak.

Overnight, Sunday evening selling gave way to a bullish rebound, perhaps helped out by US Treasury Secretary Bessent’s comments about “very good proposals” to avoid tariffs from key trading partners and ongoing US-China talks, pushing the index into the green by the open. The regular session erupted with buyers blasting through the premarket high and last week’s peak, hitting 5578.75, only to crash back into the red as sellers pounced. Bessent’s remark that China must “de-escalate” trade tensions, coupled with rising India-Pakistan military friction, seemed to fan bearish flames. Sellers soon breached the premarket low reaching 5492, near Friday’s low.

Bulls staged a midday V-bottom at that low, possibly ignited by White House remarks on “very positive” UK trade talks, rallying for the rest of the afternoon. A last-gasp sell-off in the final five minutes swiped most of the late-day gains, leaving the session in the upper half of the day’s range at 5553, up a scant 3.25 handles. 

Tuesday brings March’s Advanced US Trade Balance, inventories at 8:30 AM ET, and a slew of earnings in both the morning and evening. 

Meta Platforms Inc (NASDAQ: META) snagged the biggest win among top components, climbing $2.47, or 0.45%, to close at $549.74.

That outpaced the cash index’s 0.04% creep by nearly a dozen times. 

On the other hand, NVIDIA Corp (NASDAQ: NVDA) slumped as the biggest loser among top components, shedding $2.28, or 2.05%, to close at $108.73.