Wednesday’s session in the S&P 500 index futures soared to new all-time highs, sparked by light PPI data, but choppy battles between bulls and bears shaved some gains.
Muted overnight/premarket action gave way to August’s Producer Price Index (PPI) data at 8:30 AM ET, landing below expectations, prompting buyers to propel the index to an all-time high of 6565.25.
| August Report | Actual | Expected | Previous |
| PPI (MoM) | -0.1% | 0.3% | 0.7% |
| PPI (YoY) | 2.6% | 3.3% | 3.1% |
| Core PPI (MoM) | -0.1% | 0.3% | 0.6% |
| Core PPI (YoY) | 2.8% | 3.5% | 2.7% |
Profit-takers clipped the rally pre-open, and the bulls and bears clashed even more during the regular session, chopping between the premarket high and Tuesday’s peak. Sellers pressed lower highs and lower lows through the session, breaking the premarket low in the final hour to hit 6522.50, just above unchanged.
Just when it seemed all the gains would be given up, buy-the-dippers stepped in during the final minutes. The session closed below the day’s midpoint at a new all-time closing high of 6539.75, up 18 handles. After hours, news hit of Charlie Kirk’s passing, noted in Trump’s posts, adding a somber note.
Thursday brings August’s CPI data at 8:30 AM ET, along with a sprinkle of earnings.
Broadcom Inc (NASDAQ: AVGO) snagged the biggest win among top components, soaring $32.90, or 9.77%, to close at $369.57, hitting new all-time highs on renewed rally momentum.
That outpaced the cash index’s 0.29% gain by over 33 times.
Amazon.com Inc (NASDAQ: AMZN) slumped as the biggest loser, shedding $7.91, or 3.32%, to close at $230.33.
