The bears came back to rule Wednesday’s S&P 500 index futures session, with lofty long-term bond yields keeping the market pinned as the inside week continues. 

Overnight, a steady drop set the stage, but bulls charged in the early morning, hitting new premarket highs only to smack into resistance at Tuesday’s peak. The opening bell unleashed a buying surge that punched through to a fresh high of 5952.50, yet the bulls couldn’t hold a bid. Bears pounced, flipping the index into the red, driving it past the premarket low, and after a fleeting afternoon lift, breaking through 5900. 

Selling continued on as traders shed positions ahead of NVIDIA Corp.’s (NASDAQ: NVDA) earnings. The session concluded in the lower half of the day’s range at 5902.75, losing 31.50 handles. Post-close, NVIDIA’s report sparked a dip to 5890, but a bullish reaction yanked the index futures back near Tuesday’s close.

Looking ahead, Thursday brings a handful of earnings, Q1’s first GDP revision at 8:30 AM ET, and a flood of fedspeak for market participants to peruse.

Broadcom Inc (NASDAQ: AVGO) stole the spotlight as the biggest gainer among top components, rising $3.78 or 1.60% to close at $239.43.

That outshone the cash index’s 0.58% tumble by over two percent.

On the other hand, Tesla Inc (NASDAQ: TSLA) flipped from Tuesday’s glory to the day’s biggest loser, dropping $5.99 or 1.65% to end the day at $356.90.