Bulls bounced back into action on Monday in the S&P 500 index futures, helped along by reports of an Iran-Israel ceasefire, but most of the recovery was sold off by the end of the day.

Overnight, bulls built support from a low of 7355.50, pushing the index futures into green territory by morning and extending modest gains. Off the opening bell, profit-takers struck quickly. Bulls refused to yield, holding firm near the 7430 area before launching a solid rebound that carried the high to 7476.75. However, resistance proved too strong to break.

Bids soon gave way, and a fairly steady decline unfolded amid choppy action for the rest of the session. In the final hour, sellers tested support near Friday’s close, which held up through the closing chop. The session concluded near the day’s midpoint at 7416, gaining 15.50 handles.

Tomorrow, market participants can look forward to April’s US trade balance at 8:30 AM ET, along with some other minor macro data and a handful of earnings reports before the open and after the close.

Among the top components of the index, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer. The AI/EV company advanced by $17.95 or 4.59 percent to close at $408.95 for the day. 

That performance was nearly 20 times better than the cash index’s advance of 0.23 percent.

Conversely, the biggest loser ended up being Apple Inc (NASDAQ: AAPL) after announcing its latest software at WWDC. For the session, the tech giant declined by $5.80 or 1.89 percent to close at $301.54.