Thursday’s S&P 500 index futures session had another day of consolidating just under recent all-time highs, of course influenced by geopolitical news of the day and further digestion of many earnings reports.

Overnight, bulls fended off sellers as geopolitical reports circulated, which became the theme for the day. By morning, bulls were testing resistance at unchanged. Off the opening bell, bulls went to test resistance but were denied once again. It wasn’t until the second attempt that they were able to breach through, maintaining a small and steady rally and reaching a high of 7181.50. That marks the third high in that area near the all-time high. After that, selling pressure took the index futures back into the red. News surrounding the Strait of Hormuz and US-Iran tensions circulated via Trump posts, international outlets and others. A quick swoon of about 80 handles took place, bottoming at a low of 7079.25.

Bulls were nearly just as quick to buy up the dip, but they were unable to make it close to unchanged again. For the rest of the afternoon, the action settled to chop within a small range near the 50 percent retracement on the day. The session concluded above the day’s midpoint at 7143.50, losing 27.75 handles.

Friday, market participants can look forward to some minor macro data and more earnings reports in the morning.

Among the top components of the index, Walmart Inc (NYSE: WMT) emerged as the biggest gainer. The retail giant was able to advance by 2.05 or 1.58 percent to close at 132.03 for the day.

That performance was nearly two percent better than the cash index’s decline of 0.39 percent.

Conversely, the biggest loser ended up being Microsoft Corp (NASDAQ: MSFT). For the day, the tech giant declined by 17.17 or 3.97 percent to close at 415.75.