Thursday’s session in the S&P 500 index futures soared to new all-time highs, partially helped by mostly in-line CPI data, though tempered by reflections on 9/11 and the recent assassination of Charlie Kirk.
Overnight, bullish action kicked off, charging toward Wednesday’s all-time high. They reached the 6550s by 8:30 AM ET when August’s Consumer Price Index (CPI) data landed mostly within expectations.
| August Report | Actual | Expected | Previous |
| PPI (MoM) | 0.4% | 0.3% | 0.2% |
| PPI (YoY) | 2.9% | 2.9% | 2.7% |
| Core PPI (MoM) | 0.3% | 0.3% | 0.3% |
| Core PPI (YoY) | 3.1% | 3.1% | 3.1% |
Buying algos nearly tapped Wednesday’s peak before sellers drove a dip to 6535.50, just above Wednesday’s close. Dip-buyers pounced, sparking a rebound. The regular session opened shy of the all-time high, with chop giving way to a bull rally that surged to new highs by lunch. For the rest of the day, the index futures settled just under the psychological 6600 level, where bids held firm. A late push hit a new all-time high of 6600 before profit-takers trimmed gains, closing at 6592.50, up 52.75 handles.
Friday offers a breather with no major earnings or data, only September’s preliminary consumer sentiment at 10:00 AM ET.
Tesla Inc (NASDAQ: TSLA) snagged the biggest win among top components, soaring $21.02, or 6.04%, to close at $368.81, helped by strong China sales and Robotaxi expansion into Nevada.
That outpaced the cash index’s 0.83% gain by a lucky seven times.
Broadcom Inc (NASDAQ: AVGO) slumped as the biggest loser, shedding $9.94, or 2.69%, to close at $359.63.
