Bulls finally broke the recent losing streak in Wednesday’s S&P 500 index futures, though bears and other sellers didn’t stop applying pressure.

Overnight, the action stayed fairly calm as bulls defended support near the psychological 7700 level, setting the low at 7698.25. Morning reports that the US Treasury “is increasing, by at least double, the size of liquidity support buyback operations for longer-dated nominal coupon securities” stirred up the bulls, who rallied the index futures to new highs during the premarket hours. Profit-takers took their chances ahead of the regular session, but they failed to initiate much of a decline.

The regular session started off with chop, yet bulls held support above unchanged and gained the upper hand after the first hour, pushing the high to 7764.75 before more sellers came in. One more push toward that high during the lunch hour was met by bears hitting back, and they took greater control for the afternoon. Reports on the latest FOMC meeting minutes revealed that meeting participants supported keeping rates unchanged. Bulls and bears found a balance in the 7730s for the rest of the afternoon, before a small selloff arrived ahead of the close. The session concluded near the day’s midpoint at 7729, gaining 15 handles.

Thursday, market participants can look forward to some minor macro data in the morning, along with a few earnings reports in the morning and evening, including Walmart Inc (NYSE: WMT) before the open.

Among the top components of the index, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer. The AI/EV company advanced by $14.25 or 4.23% to close at $351.12 for the day.

That performance was a terrific 20 times better than the cash index’s advance of 0.21%.

Conversely, the biggest loser ended up being Broadcom Inc (NASDAQ: AVGO). For the day, the chip designer declined by $17.35 or 4.57% to close at $362.48.