The S&P 500 index futures swung sharply on Wednesday, driven by a series of Trump comments that helped flip sentiment from cautious to bullish.

Overnight action stayed relatively calm despite some earnings impacts on individual names. Bulls held futures in the green for most of the premarket hours, with sellers briefly testing support near Tuesday’s close, setting the day’s low at 6814.50 before dip-buyers stepped in. Trump’s Davos remarks, including a measured stance on Greenland and other topics, provided early tailwinds for the bulls.

The regular session opened choppy but soon extended the rally toward Tuesday’s intraday high. Resistance capped gains there, handing control to sellers before noon. The tide turned decisively in the afternoon when a Truth Social post from Trump indicated that tariffs scheduled for February 1 would not be imposed, igniting a powerful bullish surge. The rally broke to new highs, peaking at 6945.25 before profit-taking set in during the final hour. Resistance turned into support at Tuesday’s intraday high, and the session settled in the upper half of the range to close at 6910, up 80.50 handles.

Thursday brings the first revision of Q3 GDP at 8:30 AM ET, November’s PCE data at 10:00 AM, additional macro data, and a heavy slate of earnings in the morning and evening.

Among top index components, Tesla Inc (NASDAQ: TSLA) led as the biggest gainer, climbing $12.19 or 2.91% to close at $431.44.

That outperformed the cash index’s 1.15% advance by over two times.

On the other hand, Microsoft Corp (NASDAQ: MSFT) was the biggest loser, dropping $10.41 or 2.29% to close at $444.11.