Friday’s S&P 500 index futures session saw more profit-taking as tariff impacts settle in, with the CME FedWatch tool showing a slight uptick to 15.4% for September rates remaining unchanged.

Overnight, before the Trump-Putin meeting in Alaska and hopes of rate cuts, bulls drove the index to a new all-time high of 6508.75 for the front-month contract. As morning unfolded, bulls couldn’t muster enough fuel to sustain their bids. The regular session opened green, but profit-takers and bears pounced just under the psychological 6500 level, sparking a sharp selloff.

After the initial dip, sellers pressed on, but bulls held above Thursday’s low, bottoming at 6461.50 before lunch. A small afternoon rally showed gusto, yet fell short of green as bears reclaimed control in the final two hours. Last-minute sellers nudged the index back toward the low, wrapping at 6471.50, down 19 handles. For the week, that still nets a 58-handle gain (0.90%). 

Next week brings July’s FOMC Meeting Minutes Wednesday, PMI, other macro data, and a few retail earnings among other reports.

Among the top components, Eli Lilly And Co (NYSE: LLY) led as the biggest winner for the third straight day, climbing $18.30, or 2.68%, to close $701.23, extending its five-day win streak post-earnings recovery.

That outpaced the cash index’s 0.23% dip by nearly three percent.

On the other hand, Broadcom Inc (NASDAQ: AVGO) tanked as the biggest loser, shedding $4.89, or 1.57%, to close at $306.34.