Typically, the Friday before a long weekend, the action in the S&P 500 index futures is fairly muted. Today was not that typical day. However, the propensity of the index futures to finish the week on an extreme end somewhat played out, marking a new weekly low and lowest close of the week.

Overnight, the index futures snoozed until Trump’s morning posts hit, recommending a 50% tariff on the EU and a 25% levy on foreign-made iPhones. Bears roared into action, slashing the index by ~100 handles to a low of 5756.50. Bulls clawed back some ground by the opening bell, setting up a scrappy rebound.

The regular session kicked off above the premarket low, with bulls choppily grinding higher but failing to flip the tape green. Late selling ruled for most of the final hour, locking in a red finish. The session concluded slightly above the day’s midpoint at 5817, losing 39.75 handles. For the week, that makes for a decline of 165.50 handles or 2.77%.

Next week tees up more fedspeak and a data deluge, starting with durable goods orders Tuesday, Fed minutes Wednesday, and inflation numbers to cap it off.

JPMorgan Chase & Co (NYSE: JPM) stood alone as the largest gainer among top components, scraping out a $0.04 or 0.02% nudge to $260.71.

The banking behemoth’s tiny win still outshone the cash index’s 0.68% flop.

Apple Inc (NASDAQ: AAPL) ate the biggest loss, tanking $6.09 or 3.02% to $195.27, battered by tariff jitters.

Wishing all traders a pleasant Memorial Day weekend!