The S&P 500 index futures did follow through from Friday’s rally. After surrendering some gains from the premarket session, the index opened in the green and had a robust rally off the open until lunchtime. It hovered near the high for the session for an hour, before succumbing to selling pressure.
The ensuing decline found support ahead of the premarket low (4041.75), finding buyers just under Friday’s close (4049.75), only reaching 4048. Buyers reemerged in the final fifteen minutes to enable the index to post a modest gain of 2.75 handles with a closing print of 4052.50.
Apple Inc. (NASDAQ: AAPL) was the biggest winner of the top components. Following a “Buy” recommendation from Goldman Sachs, the issue added $2.80 or 1.85% to close at $153.83.
That was much better than the cash index’s fractional gain.
Tesla Inc. (NASDAQ: TSLA) was the biggest loser of the top components. The Street did not look favorable on the reduction in prices once again. For the session, the issue declined by $3.98 or 2%.
