The S&P 500 index futures continued the bullish momentum Wednesday, putting in another solid gain amid ceasefire optimism and better-than-expected earnings reports.

Overnight bulls fended off sellers, mostly holding the psychological 7000 level and only dipping to a low of 6991.75 before promptly recovering. Right off the regular session open, bulls pushed past the premarket high, only to face a quick round of selling on reports surrounding upcoming US peace talks. Selling didn’t last long, with bulls powering to new highs. The morning rally paused near the February 25 high before resuming in the afternoon with more buying. 

The rally plateaued in the final hour, reaching a high of 7064.50 that nearly perfectly matched February’s high in the front-month contract. The session closed near the day’s high at 7060.50, up 55.75 handles.

Tomorrow brings some minor macro data in the morning and a ton of earnings reports in the morning and evening.

Among the top components of the index, Tesla Inc (NASDAQ: TSLA) stood out as the biggest gainer. After the announcement of progress with its latest AI chip, the AI/EV company advanced $27.79 or 7.63% to close at $391.95.

That performance was a nice nine times better than the cash index’s 0.79% advance.

For the second day in a row, Berkshire Hathaway Inc (NYSE: BRK.B) was the biggest loser, declining $3.50 or 0.73% to close at $474.09.