It was an inside day for the S&P 500 index futures, posting a trading range of just 26.25 handles. The day’s action was restrained below the 4300 level as dips were bought and rallies sold. This all comes as investors continue to process updates on the banking crisis, debt ceiling deal, while also eyeing the upcoming Federal Reserve meeting and CPI data slated for next week.
The day wrapped up with the index gaining 8.75 handles to close at 4289.75, underscoring a cautious optimism amid persisting economic uncertainties.
In the lineup of top components, Tesla Inc. (NASDAQ: TSLA) continued its uptrend, advancing by 1.70% to close at $221.31. This move came in the wake of news about robust sales in China and a blossoming partnership with Panasonic. As of writing this article, the electric vehicle titan continued its ascent, rising approximately another 1.5% during after-hours trading.
This performance markedly outpaced the cash index’s increase of 0.20% for the day.
On the other hand, UnitedHealth Group Inc. (NYSE: UNH) took the spot of the biggest loser among the top components, declining by 2.13% to close at $487.57. This trading action underscored the $500 mark as a firm resistance level, as the issue had opened at $498.48.
