The S&P 500 index futures extended lower Tuesday as geopolitical tensions weighed, though bulls mounted a solid recovery, falling short of erasing the day’s losses.

Overnight, index futures declined steadily from an early high of 6886 amid reports of escalating conflict in the Middle East. Bulls defended Monday’s close into the open despite early bearish pressure. After the bell, selling pressure didn’t relent and bears pushed to new lows. The index futures bottomed at 6718.75 before bids built and sparked a rally that carried through most of the session. Progress slowed near the psychological 6800 level but bulls pressed on, nearing 6850 in the penultimate hour. 

Profit-taking and renewed selling in the final hour trimmed much of the recovery. The session closed above the day’s midpoint at 6824.75, down 63.50 handles, marking a four-day losing streak.

Wednesday brings February’s ADP employment numbers at 8:15 AM ET, services reports at 9:45 AM and 10:00 AM, plus a heavy earnings slate before the open and after the close including Broadcom Inc (NASDAQ: AVGO) at approximately 4:15 PM ET.

Among the top components of the index, Microsoft Corp (NASDAQ: MSFT) stood out as the biggest gainer, rising $5.38 or 1.35% to close at $403.93.

That performance was over two percent better than the cash index’s 0.88% decline.

On the other hand, Tesla Inc (NASDAQ: TSLA) was the biggest loser, falling $10.89 or 2.70% to close at $392.43.