Thursday’s S&P 500 index futures session continued the week’s volatility, with bears driving the lowest close of the week amid trade and geopolitical concerns.
Overnight trading saw bulls take an early lead, setting up a green open for the regular session. Support at unchanged was tested before buyers pushed to a session high of 6750.50. A Trump post about a call with Putin rattled markets, helping a choppy sell-off as sellers gained traction. Support briefly held above Wednesday’s low, and bulls mounted a bounce approaching unchanged after details of the Putin call emerged, hinting at upcoming trade and war-related meetings.
Bears regained control, sparking a sharp sell-off that bottomed at 6632. In the final two hours, bulls trimmed some losses, but the recovery was choppy rather than sustained. The session closed below the day’s midpoint at 6668.75, down 46.25 handles.
Friday brings a few morning earnings reports and, unless the government shutdown ends, a pause in scheduled data releases.
Among top index components, NVIDIA Corp (NASDAQ: NVDA) led as the biggest gainer, rising $1.98 or 1.10% to close at $181.81.
That outperformed the cash index’s 0.68% decline by nearly two percent.
Conversely, JPMorgan Chase & Co (NYSE: JPM) was the biggest loser, falling $7.15 or 2.34% to close at $298.54, weighed down by sector weakness following bank earnings reports.
