Wednesday’s S&P 500 index futures session overcame sharp early volatility to finally break above the stubborn triple-top zone and close modestly higher in that same zone.
Overnight trading stayed comfortably green until premarket reports surfaced that Microsoft had lowered AI software sales quotas, triggering a nearly 40-handle swoon that marked the session low at 6817.50. Bulls responded with a determined but choppy recovery after the open, gradually lifting away from the red.
At 10:00 AM ET, November ISM services activity edged above expectations while the prices component came in softer, helping give bulls a brief lift that initially faded. Persistent buying resumed, and after several tests of Tuesday’s close, gains finally stuck. The afternoon rally steadied and pushed to a high of 6873.25, clearing the prior triple-top by roughly 10 handles. Late-hour profit-taking and light bearish pressure trimmed the top. The regular session closed in the upper half of the range at 6862, up 21.75 handles.
Thursday brings a light macro calendar with a handful of earnings morning and evening.
Among top index components, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer after strong November China sales figures surfaced. The AI/EV leader surged $17.50 or 4.08% to close at $446.74.
That performance was nearly a dozen times better than the cash index’s 0.35% advance.
The biggest loser was Microsoft Corp (NASDAQ: MSFT). Following the lowered AI software quota reports, the tech giant dropped $12.27 or 2.50% to close at $477.73.
