The S&P 500 index futures barely broke the recent win streak during Wednesday’s session, as the bulls bumped up against resistance but also held support in one of the tightest ranges in months.

The premarket session was relatively calm until May’s ADP employment report came out far below expectations (37k vs 111k est.) at 8:15 AM ET, prompting traders to hit the sell button. Bears drove the index to 5974 before bulls bought the dip, pushing the regular session to start in the green. Related headlines followed throughout the day, including a post from Trump urging Fed Chair Powell to “must now” lower rates. 

Buying soon nudged past the premarket high, nearing 6000, but May’s ISM services report at 10:00 AM ET came in soft, sparking a quick selloff. Buy-the-dippers swooped in, and choppy trading kept 6000 in sight. The lunch hour brought another dip and bounce, with the high inching to 5999. Bears and profit-takers sold into the close, landing the session in the lower half of the day’s range at 5981, down a scratch 0.50 handle.

Thursday brings April’s US trade deficit and Q1 productivity data at 8:30 AM ET, plus afternoon fedspeak.

Meta Platforms Inc (NASDAQ: META) was the biggest winner among the top components, climbing $21.10, or 3.16%, to $687.95.

That outpaced the cash index’s 0.03% dip by over three percent.

On the other hand, Tesla Inc (NASDAQ: TSLA) took the biggest hit, sliding $12.22, or 3.55%, to $332.05.