The inside week for the S&P 500 index futures continued with consolidation near all-time highs during Thursday’s session.
Overnight, it was the bears that maintained control, keeping the index futures entirely in the red. After hovering near the weekly pivot area, November’s Producer Price Index (PPI) was released at 8:30am EST as follows:
| November Report | Actual | Expected | Previous |
| PPI (MoM) | 0.4% | 0.2% | 0.2% |
| PPI (YoY) | 3.0% | 2.6% | 2.6% |
| Core PPI (MoM) | 0.1% | 0.2% | 0.3% |
| Core PPI (YoY) | 3.5% | 3.2% | 3.5% |
The hotter-than-expected PPI data helped to instigate some selling initially, but the quick dip was bought up by the open. The regular session began at the weekly pivot, and the bears took charge once again. Sellers were barely able to breach the premarket low before the bulls once again had the index futures back at the weekly pivot area. Unfortunately, resistance at the premarket high was too much to overcome.
After some more chop within the premarket high and low, bears were able to press onto new lows in the final two hours. Finishing with a bout of selling, the session concluded virtually at the intraday low at 6060.75, losing 32 handles.
Among top components of the index, Apple Inc (NASDAQ: AAPL) emerged as the one and only winner. The tech giant was able to advance by $1.47 or 0.60% to close at $247.96 for the day.
That performance was still better than the cash index’s decline of 0.52%.
Conversely, the biggest loser ended up being Alphabet Inc (NASDAQ: GOOGL). For the day, the search giant declined by $3.44 or 1.76% to close at $191.96.
