When the S&P 500 index futures close on the highs for the week and month, you definitely need to see follow-through on the Monday. That is exactly what happened.
After digesting the OPEC oil gut punch, the index took a while to stabilize over Friday’s close. Once that happened heading into the final hour, the bulls were in full control.
For the session, the index added 16 handles at a closing price of 4153.75.
The surge in Crude Oil prices allowed Exxon Mobil (NYSE: XOM) to be the biggest winner of the top components of the index. The issue extended its winning streak to seven sessions by tacking on $6.47 or 5.90% to close at $106.13.
That was six times the cash index’s gain of 0.39%.
Tesla Inc. (NASDAQ: TSLA) took in on the chin following disappointing delivery figures and was the biggest loser of the top components. For the session, the issue declined by $12.69 or 6.1%.
