Tuesday’s session in the S&P 500 index futures snapped a six-day win streak, mired in choppy trading with no clear driver for the most part.
Overnight, buying quickly fizzled as sellers took charge, plunging the index into the red with no green in sight for the session. Premarket and early regular session trading chopped between 5950 and 5975, lacking significant sparks to break the stalemate.
Afternoon action broke the chop when sellers smashed through support in the 5950 area, triggering a quick sell-off. Bulls found a floor at 5926.75, igniting a final-hour buying push that clawed back some losses by the close. The session ended a hair below the day’s midpoint at 5959.75, down 22.75 handles.
Similar to Tuesday’s session, Wednesday is set to bring more fedspeak and retail earnings.
Tesla Inc (NASDAQ: TSLA) snagged the biggest win among top components, eking out a $1.73, or 0.51%, gain to close at $343.82.
That outpaced the cash index’s 0.34% drop by nearly one percent.
Alphabet Inc (NASDAQ: GOOGL) slumped as the biggest loser, shedding $2.56, or 1.54%, to close at $163.98.
