Thursday’s session in the S&P 500 index futures swung in both directions, clinging to gains amid a flurry of Trump-driven headlines but lacking sustained momentum. Bulls eked out a green close, buoyed by trade optimism, though late selling tempered the rally.

Overnight, bulls rode an early gain, only to face bearish pressure in the morning, helped out by Q1 nonfarm US productivity missing expectations at -0.8% vs. -0.4% forecast. The sell-off deepened post-open, bottoming above the overnight low of 5636.50. Reports of Trump’s call with UK Prime Minister Starmer securing a “breakthrough deal” jolted bulls into action, fueling a rally that smashed through the premarket high to a daily (and monthly) peak of 5741. 

Bears clawed back in the final 30 minutes, possibly helped out by JD Vance’s claim that the US would abandon Russia-Ukraine talks if Russia didn’t negotiate “in good faith.” The session closed near the day’s midpoint at 5684.50, up 32.50 handles. 

Friday brings morning earnings and a barrage of fedspeak. 

Tesla Inc (NASDAQ: TSLA) snagged the biggest win among top components, advancing $8.60, or 3.11%, to close at $284.82.

That outpaced the cash index’s 0.70% gain by over four times. 

Eli Lilly And Co (NYSE: LLY) slumped as the biggest loser, shedding $25.27, or 3.25%, to close at $751.45.