The S&P 500 extended its winning streak to three sessions on Monday, with the cash index advancing 0.66% to 7,773.95.
Overnight, the market remained supported by Friday’s softer-than-expected jobs report, which continued to reduce expectations for a Federal Reserve rate hike this month. Futures pushed higher as investors also looked ahead to the start of third-quarter earnings season and digested a decline in oil prices. The December S&P 500 futures contract traded as high as 7,847.25 and as low as 7,760.50.
The session concluded above the day’s midpoint at 7,829.25, gaining 52.00 handles from the prior close. The contract finished just 18 handles below its session high as buyers held their gains into the close.
Tomorrow, market participants can look forward to the U.S. International Trade in Goods and Services report at 8:30 a.m. ET.
Among the top components of the index, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer. The AI/EV company was able to advance by $8.14 or 2.20% to close at $378.73 for the day.
That performance was more than three times better than the cash index’s 0.66% advance.
Conversely, the biggest loser ended up being Apple Inc (NASDAQ: AAPL). For the day, the tech giant declined by $0.80 or -0.24% to close at $332.89.
