Wednesday’s S&P 500 index futures session reignited the recent rally, inching closer to all-time highs ahead of the long weekend.

Overnight, bulls muscled past the Monday/Tuesday double-top, but early morning resistance proved too stout, turning the tide to sellers. June’s ADP nonfarm employment change at 8:15 AM ET landed far below expectations (-33k vs. +100k exp.), handing bears the reins to drag the index from unchanged into the red. Support held above the Monday/Tuesday double-bottom, and buy-the-dippers stepped in, distancing the low at 6235.50.

Though the regular session still opened in the red, the rally soon flipped green with little pushback, gaining steam through a steady afternoon with minimal chop. The session wrapped near the day’s high at 6275, up 26.25 handles, with after-hours trading stretching that peak to 6279.50. 

Looking ahead, Thursday’s full US job report at 8:30 AM ET looms large.

Among the top components, Tesla Inc (NASDAQ: TSLA) led the charge, surging $14.94, or 4.97%, to $315.65 after better-than-expected Q2 deliveries lit a fire under the AI/EV maker.

That outpaced the cash index’s 0.45% rise by over an order of magnitude.

On the other hand, Berkshire Hathaway Inc (NYSE: BRK.B) tanked as the biggest loser, shedding $9.13, or 1.86%, to $480.48.