The S&P 500 index futures delivered another sell-the-rip, buy-the-dip session Wednesday, finishing essentially flat and remaining in January’s consolidation zone just below all-time highs.

Overnight trading stayed quiet with a slight bullish tilt. The January jobs report at 8:30 AM ET came in significantly hotter than expected, adding 130K jobs versus 55K consensus, while the unemployment rate edged down to 4.3% from the anticipated 4.4%. Buying algos and bulls drove a sharp spike into the 7000 level, reaching a session high of 7011.50 shortly after the opening bell. The advance quickly reversed with an 80-handle drop to a low of 6931 by the end of the first hour, possibly fueled in part by a Trump post suggesting the US should pay far less on its bonds. 

Bulls quickly stepped in to buy the discount, along with shorts covering that lifted futures back to unchanged. The rest of the day featured tight chopping around Tuesday’s close. Bears managed a small push into the red in the final minutes. The session closed below the day’s midpoint at 6960.50, down just 1 handle.

Thursday brings minor macro releases along with a heavy slate of earnings reports both morning and evening.

Among the top 10 index components, Walmart Inc (NYSE: WMT) stood out as the biggest gainer, rising $2.07 or 1.63% to close at $128.77.

For those who like easy math, that outperformed the cash index’s scratch 0.02% decline by more than one percent.

On the other hand, Alphabet Inc (NASDAQ: GOOGL) was the biggest loser, falling $7.62 or 2.39% to close at $310.96.