The S&P 500 index futures capped the shortened week on a strong note despite mixed data and headlines driving choppy action throughout the day.

Overnight, index futures tested the psychological 6900 level before pre-data jitters wiped out early gains. December’s PCE index came in slightly hotter than expected at 0.4% MoM versus 0.3% expected, while the initial Q4 GDP reading disappointed at 1.4% against 2.8% expected. Bears used the data to press to new session lows before the regular open. Buy-the-dippers jumped in almost immediately after the bell from the low of 6847.25, quickly returning to unchanged. As chop began to settle, reports of the Supreme Court ruling against Trump’s tariffs sparked a buying frenzy that broke through the premarket high and triggered whipsaw trading around the 6900 area.

After multiple tests of the Wednesday’s high near 6925, bids gave way over lunch and dipped back into the red. That dip was bought again, this time with a slower but still choppy rally that carried bulls to a high of 6931.50. Action then consolidated just below that level for the final two hours. The session closed near the day’s high at 6923.25, up 46.25 handles. For the week, that delivers a gain of 72.75 handles or 1.06%.

Next week brings January’s PPI on Friday along with a busy earnings calendar including NVIDIA Corp (NASDAQ: NVDA) Wednesday after the close.

Among the top components of the index, Alphabet Inc (NASDAQ: GOOGL) stood out as the biggest gainer, surging $12.13 or 4.01% to close at $314.98.

That performance was a fabulous five times better than the cash index’s 0.72% advance.

Conversely, Walmart Inc (NYSE: WMT) was the biggest loser, falling $1.88 or 1.51% to close at $122.99.