Despite the strong week for the S&P 500 index futures, Friday’s session saw a curb in optimism. The index opened on a slight gap up at 4219.75 on this options expiration Friday, but the bullish momentum couldn’t resist faltering. This came in the wake of mid-morning reports that lawmakers had momentarily put the debt ceiling deal on hold.
On a positive note, bulls were able to defend the psychological 4200 level, for now. The day concluded with the index losing 7.25 handles, settling at 4204.75. That puts the gain for the week at 66.75 handles.
The biggest winner of the top components was Tesla Inc. (NASDAQ: TSLA), which continued its upward trajectory after Tuesday’s annual shareholders meeting, advancing by 1.87% to close at 180.14. This put the company’s gain for the week at 7.2%.
This exceeded the cash index’s decrease of 0.17% for the day and increase of 1.6% for the week.
Conversely, Amazon.com, Inc. (NASDAQ: AMZN) became the biggest loser among the top components, declining by 1.61% to close at $116.25, thus bringing an end to its rally for the week.
