Thursday’s S&P 500 index futures session saw a modest rebound fueled by strength in semis and several banks clearing earnings expectations, though the action settled into its recent consolidation range.
Overnight trading started red but quickly flipped green, establishing the day’s low at 6949.50. Premarket strength from early earnings releases pushed futures back into the 7000s. After the opening bell, chop set in near that psychological mark and persisted through the morning. The high of 7017.25 arrived in early afternoon, but follow-through bids were lacking for a convincing retest.
Chop continued until the final one to two hours, when bears and profit-takers took control. Late support emerged, leading to muted action in the closing half hour. The session finished near the day’s midpoint at 6981.75, up 15.50 handles.
Friday brings minor macro data in the morning, fedspeak throughout the day, and a handful of earnings, mostly from regional banks.
Among top index components, NVIDIA Corp (NASDAQ: NVDA) led as the biggest gainer, rising $3.85 or 2.10% to close at $186.99.
That outperformed the cash index’s 0.27% advance by a magnificent seven times.
On the other hand, Alphabet Inc (NASDAQ: GOOG) was the biggest loser, slipping $3.15 or 0.94% to close at $333.16.
