The S&P 500 finished Friday on a positive note, with the cash index advancing 0.54% as strength in mega-cap tech shares lifted the broader market. The December S&P 500 futures contract opened at 7,759.25, compared with Thursday’s 7,767.00 settlement.
The overnight session traded in a relatively tight range as investors digested the week’s geopolitical headlines and positioned themselves ahead of the weekend. December S&P 500 futures traded as high as 7,814.75 and as low as 7,753.25.
Stocks caught a steady bid during regular trading hours, supported by a rotation back into select tech leaders, which helped the index grind higher throughout the afternoon and completely offset the morning’s initial dip.
The session concluded near the day’s high at 7,804.75, gaining 37.75 handles from the prior settlement.
On Monday, market participants can look forward to the Dallas Fed Manufacturing Index and remarks from Federal Reserve officials, kicking off a packed economic calendar that culminates with the highly anticipated September non-farm payrolls report on Friday.
Among the top components of the index, Microsoft Corp (NASDAQ: MSFT) emerged as the biggest gainer. The tech giant was able to advance by $18.24 or 3.66% to close at $516.17 for the day.
That performance was over 6 times better than the cash index’s advance of 0.54%.
Conversely, the biggest loser ended up being Meta Platforms Inc (NASDAQ: META). For the day, the tech conglomerate declined by $25.93 or -3.33% to close at $751.66.
