Monday’s S&P 500 index futures session kicked off the shortened week with a wild ride, fueled by month- and quarter-end jitters and the bulls clawing out a gain.
As the recent trend goes, bulls seized control from the get-go overnight, pinning the session’s low at 6223.25, then surging to a premarket high of 6255 by early morning. The regular session opened comfortably green, but sellers pounced at the bell, sparking a choppy battle that defined the day. Bears probed the overnight low in the afternoon, only to see bulls buy the dip.
Bulls ruled the final hour, igniting a late rally to 6265.50, helped by end-of-quarter window dressing and monthly adjustments. That pop faded fast as profit-takers struck, leaving the close still above the day’s midpoint. Once the dust settled, the session concluded at 6253.75, a 30-handle gain. The index futures stretched its monthly haul to 284.82 handles (4.77%) and the quarterly tally to 549.92 handles (9.64%), nearing February 20’s highs and just 0.5% shy of the all-time high in the front-month contract.
Tomorrow, traders can tune into Fed Chair Jerome Powell’s speech at 9:30 AM ET, with a light earnings slate in the morning and evening.
Among top components, Broadcom Inc (NASDAQ: AVGO) led the charge, jumping $6.30, or 2.34%, to $275.65, hitting new all-time highs.
That outpaced the cash index’s 0.48% rise by over four times.
Conversely, Tesla Inc (NASDAQ: TSLA) took the biggest hit, sliding $6.13, or 1.84%, to close at $317.66.
