Monday’s S&P 500 index futures session roared back, recovering over half of Friday’s steep decline as bullish momentum took hold.
Sunday night trading opened in the green at a low of 6632, also near the daily pivot, bolstered by a Trump post easing fears of escalating China-US trade tensions. Bulls pushed toward the psychological 6700 level, though bears and profit-takers tempered the early rally early morning. The regular session kicked off below 6700 with choppy action, as bulls climbed to the premarket high only to face pushback, leading to back-and-forth trading between the open and premarket high.
During the lunch hour, bulls broke through resistance, reaching a high of 6711.50 before sellers struck again. Bulls defended their bids into the close, navigating late chop to secure gains. The session ended in the upper half of the day’s range at 6694.75, up 99.50 handles.
Tuesday brings fedspeak, including comments from Fed Chair Powell, and the start of earnings season with major bank reports in the morning.
Among top index components, Broadcom Inc (NASDAQ: AVGO) led as the biggest gainer, surging $32.07 or 9.88% to close at $356.70, driven by investor enthusiasm over a reported deal with OpenAI.
That outperformed the cash index’s 1.53% gain by a significant six times.
On the other hand, Eli Lilly And Co (NYSE: LLY) was the biggest loser, falling $14.09 or 1.69% to close at $819.40.
