Thursday’s S&P 500 index futures session turned into a classic scratch day of relentless chop, with the index unable to sustain any meaningful direction despite movement in individual components.
Overnight, bears pushed lower but found firm support near Monday’s low, marking the session bottom at 6935.25. Morning macro releases drew almost no reaction as the index futures drifted toward unchanged. Chop intensified after the open, with bulls finally breaching green territory after the first half hour. From there, bulls and bears traded blows without either side gaining lasting control.
Buyers managed a lunch-hour high of 6977.75, only for sellers to counter immediately. The afternoon remained mostly red, though bulls clawed back most of the losses in the final hour to keep the session nearly flat. The regular session closed above the midpoint at 6962, down a negligible 1.25 handles.
Thursday brings the December jobs report at 8:30 AM ET along with additional macro releases.
Among top index components, Amazon.com Inc (NASDAQ: AMZN) emerged as the biggest gainer. The e-commerce giant rose $4.73 or 1.96% to close at $246.29.
That performance was over one percent better than the cash index’s scratch 0.01% decline.
Conversely, the biggest loser was Broadcom Inc (NASDAQ: AVGO). For the day, the chip designer fell $11.11 or 3.24% to close at $332.39, tracking broader weakness across the semiconductor sector.
