The good news is that the S&P 500 index futures did make a new high for the recent rebound at 3948. The bad news is that it was unable to maintain that level and finished the session in the red by 12.50 handles 3903.75.
The index made a weak attempt off the open to reach the premarket high but came up well short of it, only reaching 3931.75 and began to taper off. The index did breach the premarket low on a few occasions, but not by very much. The bear’s second attempt to instigate a deeper red session came late in the day but quickly recovered into the close.
The daily range of only 55.50 was well below the nine-day average true range of 113, exhibiting the nonaggressive behavior by both the bulls and the bears
Exxon Mobil followed the Crude Oil futures higher and was the biggest winner of the top components of the index. For the session, the issue gained $2.13 or 2.5 percent to close at $89.03.
That was nearly 3 percent better than the cash index’s decline of 0.32 percent.
Amazon.com Inc. (NASDAQ: AMZN) led the way on the downside for the top components. For the session, the issue declined by $3.24 or 2.8 percent.
PreMarket Prep Stock Of The Day: Carnival Corp (NYSE: CCL)
Inside day following a major rally on Friday following its Q2 report. Read more on CCL here.
