Monday’s session in the S&P 500 index futures saw bears and profit-takers reverse Friday’s rally, driving a choppy retreat.
Selling kicked in as overnight commenced, sliding steadily from a high of 6494, cementing a double-top in that zone. As the regular session neared, bulls found a base at 6460, sparking a choppy comeback. The rally gained traction after the opening bell, with bulls pushing toward unchanged by the lunch hour. Unfortunately for them, lurking sellers then flipped the tide, triggering a steady decline that persisted into the final minutes.
A late flush of selling, possibly amplified by closing imbalances, drove the index futures to a low of 6453, closing near that mark at 6455.50, down 27.75 handles.
Tuesday brings July’s durable goods orders at 8:30 AM ET, August’s consumer confidence at 10:00 AM ET, and a spattering of earnings.
Tesla Inc (NASDAQ: TSLA) snagged the biggest win among top components for the second straight day, climbing $6.59, or 1.94%, to close at $346.60.
That outpaced the cash index’s 0.44% drop by over two percent.
Eli Lilly And Co (NYSE: LLY) slumped as the biggest loser, shedding $16.35, or 2.30%, to close at $695.33.
