NEW YORK (CNNfn) - Contrasting legal decisions in the presidential election impasse whipsawed investors Friday with U.S. stocks closing sharply higher in regular trading, only to fall in after-hours activity.

A pair of Florida court rulings favoring George W. Bush pushed stock prices higher. But a late-afternoon decision by the Florida Supreme Court gave new life to Vice President Al Gore's challenge, sending stock index futures sharply lower. Shortly after 4:30 p.m., S&P 500 index futures were trading some 30 points below fair value, implying a sharply lower opening on Monday if things remain as they are today. Stocks seen benefiting from a Bush presidency also fell after-hours.


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