Bears seemed to take the day off during Monday’s session in the S&P 500 index futures, as weekend news of cancelled US strikes on Iran circulated and handed bulls a sigh-of-relief rally to start the month.

Overnight trading started elevated, near the July 22 high and close, and remained fairly steady until the regular session approached. Sellers came in minutes before the open and ticked the index futures down to a low of 7542.75, but once the opening bell rang, bulls came charging right back.

The ensuing rally soon broke the premarket high and then some, hardly running into any resistance at all. It plateaued only in the final two hours of the session, topping out at 7637.75 and nearly matching July’s high. The session concluded near the day’s high at 7628.25, gaining 109 handles.

Tomorrow, market participants can look forward to June’s US trade balance at 8:30 AM ET, along with more earnings reports morning and evening, including the first earnings report from Space Exploration Technologies Corp. (NASDAQ: SPCX) expected after the close.

Among the top components of the index, Meta Platforms Inc (NASDAQ: META) emerged as the biggest gainer. The tech conglomerate advanced by $33.53 or 6.02% to close at $590.24 for the day.

That performance was a fortunate four times better than the cash index’s healthy advance of 1.42%.

For the second day in a row, the biggest loser ended up being Apple Inc (NASDAQ: AAPL). For the day, the tech giant declined by $5.49 or 1.78% to close at $303.42 in its post-earnings slide.