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Daily Wrap-Up: Drop and Chop | Aug 24, 2026

By August 24th, 2026Daily Market Wrap-Up2 min read

Monday turned into a chopfest for the S&P 500 index futures, with bears holding resistance firm amid a steady drip of tariff-related headlines, while bulls claimed support at last week’s low.

Bulls and bears opened Sunday evening trading by oscillating around Friday’s close, and it did not take long for the session high of 7703.25 to be marked. As the night progressed, bears kept the pressure on, holding a resistance level below Friday’s close firm. The decline was not entirely steady, as bulls fought back, especially once the morning headlines began rolling in.

The regular session began with a sharp selloff, carving out a new low of 7655 within the first 20 minutes and forming a triple-bottom near Thursday and Friday’s lows. From there the action turned choppy, with neither bulls nor bears holding control for long. As the lunch hour approached, bulls mounted a push toward unchanged, but they could not break through resistance. They did not give up, soon defending support near last week’s lows and following through with another attempt at a rally. The buying did not last long, and the final hour was a slow decline back toward support. The session concluded below the day’s midpoint at 7669.75, losing 21.50 handles.

Tuesday, market participants can look forward to some minor macro data in the morning, along with a few notable earnings reports in the morning and evening.

Among the top components of the index, Walmart Inc (NYSE: WMT) emerged as the biggest gainer. The retail giant advanced by $2.79 or 2.69% to close at $106.49 for the day.

That performance was over 2% better than the cash index’s decline of 0.29%.

Flipping its role from Friday, the biggest loser ended up being Tesla Inc (NASDAQ: TSLA). For the day, the AI/EV company declined by $13.91 or 3.83% to close at $348.95.

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