After the long weekend, bulls returned with energy and pushed the S&P 500 index futures to new all-time highs during the first session for the week.

Abbreviated Memorial Day futures trading saw bulls start from a low of 7517 and build a light rally to a new all-time high of 7569.75. With reports of defensive strikes and ongoing US-Iran negotiations, some of those gains evaporated by the regular session open on Tuesday.

The opening bell brought immediate volatility, with bears testing support at Friday’s high before bulls fired back in a choppy rebound. Progress stalled just above the 7550 area as resistance held firm. Bids soon gave way, allowing bears to drive the index back down to retest the low of 7517. Bulls attempted a counter, but struggled to sustain any meaningful rally. For much of the afternoon, the index oscillated above the lows until the final half hour, when bulls managed to lock in some more gains into the close. The session concluded below the day’s midpoint at a new all-time closing high of 7537, gaining 46 handles.

Wednesday, market participants can look forward to some fedspeak along with a fairly heavy slate of earnings reports in the morning and evening.

Among the top components of the index, Broadcom Inc (NASDAQ: AVGO) emerged as the biggest gainer. The chip designer advanced by $7.87 or 1.90 percent to close at $422.01 for the day. 

That performance was nearly three times better than the cash index’s advance of 0.66 percent.

Conversely, the biggest loser ended up being Walmart Inc (NYSE: WMT). For the day, the retail giant declined by $1.70 or 1.41 percent to close at $118.57.