Monday’s S&P 500 index futures notched a higher high and low, but bears still ruled the intraday action.
Overnight, some choppy moves set the stage, with the regular session opening just above unchanged. The opening action stayed choppy, yet bulls held the premarket low, then rocketing back to the premarket high after Trump’s comments on boosting trade with Russia if a Ukraine deal lands. Buyers peaked at 6431.50 as lunch hit, but the tide turned fast and definitively.
The decline rolled on with no substantial support, fueled by reports of a 90-day China tariff extension that broke the 6400 level. Closing imbalances helped trigger a seller flush to 6387.50, but buy-the-dippers trimmed losses in the final few minutes. The session wrapped below the midpoint at 6399.75, down 13.75 handles.
Tomorrow brings July’s CPI data at 8:30 AM ET and a few earnings reports.
Among the top components, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer, gaining $9.36, or 2.84%, to close at $339.03 after reports of longer vehicle wait times and Robotaxi expansion buzz.
That outpaced the cash index’s 0.20% dip by over three percent.
On the other hand, Apple Inc (NASDAQ: AAPL) flipped from Friday’s win, falling as the biggest loser, declining $1.91, or 0.83%, to close at $227.18.
