The S&P 500 index futures staged a solid recovery on Monday, erasing recent losses and closing near session highs after a hesitant, but ultimately bullish day.

Overnight, bears pushed futures below last week’s low to the day’s bottom of 6864.50 in the early morning. Dip-buyers stepped in aggressively before the open, recovering nearly all of the overnight decline. At the bell, buyers surged past the premarket high and into the green for the first time. The rally paused briefly before January ISM Manufacturing data came in stronger than expected (52.6% vs 48.4% expected), helping to reignite momentum and driving index futures to new highs.

The advance slowed near the psychological 7000 level after the first hour but continued modestly higher into the afternoon, reaching a peak of 7017.25. Light profit-taking emerged over the final 1.5 hours, though the session held firm and closed near the day’s high at 7002.50, up 36.75 handles or 0.50%.

Tuesday brings another heavy slate of earnings reports in the morning and evening, plus January ISM services data at 10:00 AM ET.

Among top index components, Walmart Inc (NYSE: WMT) led as the biggest gainer, climbing $4.92 or 4.13% to close at $124.06 and printing new all-time highs. 

That performance was over eight times better than the cash index’s 0.50% advance. 

On the other hand, NVIDIA Corp (NASDAQ: NVDA) was the biggest loser, falling $5.52 or 2.89% to close at $185.61.