Starting off the final month of the year by making new all-time highs, the S&P 500 index futures were buoyed by the bulls, but not overly so.
Bears began the Globex session in control, but were only able to make just over 15 handles of progress before bulls established support. By the opening bell, the bulls were able to recover all of the overnight losses to start the regular session in the green.
The opening volatility saw quick whipsaw moves in either direction, contained largely within the all-time high and the all-time closing high made last week. Fortunately, the bulls held firm support at Friday’s close and started to push into new all-time highs just before the lunch hour.
While the bulls were able to push the all-time high to 6068.50, selling pressure proved to be too much in the final 30 minutes. After bears and profit-takers had their way, the session concluded in the upper half of the day’s range at 6061.75, gaining 10.25 handles.
Among the top components of the index, Tesla Inc (NASDAQ: TSLA) emerged as the biggest gainer. The EV maker was able to advance by $11.93 or 3.46% to close at $357.09 for the day.
That performance was nearly 20 times better than the cash index’s advance of 0.18%.
Conversely, the biggest loser ended up being JPMorgan Chase & Co (NYSE: JPM). For the day, the banking behemoth declined by $3.47 or 1.39% to close at $246.25.
