With most of the larger catalysts of the week remaining on the horizon, the S&P 500 index futures went on a roller coaster ride to (virtually) nowhere during Tuesday’s session.
A large portion of the day was spent in the red, after the bulls were unable to hold support at Monday’s close in the early morning. The regular session started over 10 handles lower and sellers were eager to test the premarket lows right off the bat. In short, support held at the premarket low and the bulls started their rebound.
After a somewhat choppy, but consistent ride up, the bulls were even able to breach the premarket high in the index futures. The bad news is they didn’t breach that level for long, or by much. The good news is that support was found again near the weekly pivot area. The choppiness continued into the afternoon, and the bulls were able to gain the upper hand after the lunch hour ended. While the rest of the session was spent in the green, no new intraday highs were made and the choppy action got more extreme in the final 10 minutes of trading.
The session concluded somewhat near the day’s high at 5644.75, gaining a measly 7.75 handles. Later in the week, traders and investors have to look forward to NVIDIA Corp (NASDAQ: NVDA) earnings, scheduled to be released Wednesday around 4:20pm EDT, as well as July’s PCE index report scheduled for Friday morning.
Among the top components of the index, NVIDIA Corp (NASDAQ: NVDA) also emerged as the biggest gainer one day ahead of its Q2 2025 earnings report. The chip designer was able to advance by $1.84 or 1.46% to close at $128.30 for the day.
That performance was one order of magnitude better than the cash index’s advance of 0.14%.
Conversely, the biggest loser was Tesla Inc (NASDAQ: TSLA). For the day, the EV maker declined by $4.00 or 1.88% to close at $209.21.
