Monday’s S&P 500 index futures session defied weekend jitters over escalating Israel-Iran tensions, heating up instead of cooling off.
The Sunday night open nearly marked the session’s low (6000), but bids flooded in, seizing the weekend gap-down as a bargain. By the regular session’s start, bulls had the index comfortably in the green. Off the opening bell, a wave of buying propelled the futures to a high of 6109.
Profit-takers and bears then chipped away, slowly pulling the index back down, though the decline stayed modest. The final minutes tipped slightly toward buying, keeping the momentum alive. Despite the pullback, the close hovered near the day’s high at 6089.75, up 58.25 handles.
Tomorrow, market participants can look forward to tomorrow’s retail sales data at 8:30 AM ET.
Among the top components of the index, Meta Platforms Inc (NASDAQ: META) emerged as the biggest gainer. The tech conglomerate was able to advance by $19.78 or 2.90% to close at $702.12 for the day.
That performance was over three times better than the cash index’s advance of 0.95%.
The biggest loser ended up being Eli Lilly And Co (NYSE: LLY). For the day, the healthcare company declined by $11.78 or 1.44% to close at $807.58.
