The S&P 500 index futures returned to its propensity of finishing the week at the extreme end of the range, posting another solid gain and making new all-time highs in the process.

Overnight, there was little resistance with the low at 7075.25 barely in the red, and bulls already printing new all-time highs by morning. Reports of Iran’s Foreign Minister confirming the Strait of Hormuz would remain fully open during the ceasefire period seemed to give bulls fresh fuel to push higher. A Trump post about continuing the naval blockade against Iran briefly boosted sellers just before the open, but the pressure faded quickly. After the regular session bell, bulls fought through early chop, cleared the premarket high and continued making new all-time highs. The rally slowed over lunch, topping at 7185.75. 

Afternoon profit-taking trimmed some gains, but support held firm at the psychological 7150 level through the rest of the day. The session closed in the upper half of the day’s range at 7161.50, up 84.50 handles. For the week, that delivers an astounding gain of 306.25 handles or 4.47%.

Monday brings more earnings reports with a comparatively light slate to start the packed week.

Among the top components of the index, Tesla Inc (NASDAQ: TSLA) stood out as the biggest gainer, rising $11.72 or 3.01% to close at $400.62.

That performance was over twice the cash index’s healthy 1.21% advance.

Returning to the biggest loser category, Berkshire Hathaway Inc (NYSE: BRK.B) declined by $0.54 or 0.11% to close at $474.58.