Futures contracts tied to the major U.S. stock indexes edged lower on Wednesday night, hours after the S&P 500 flirted with — but fell just short of — a new record close.

The after-hours moves Wednesday evening followed a rally during the regular session, with the major indexes climbing amid a rebound in Big Tech, strength from health care and gains in discretionary equities.

Household consumer tech names Facebook, Apple and Amazon rallied 1.4%, 3.3% and 2.6% during Wednesday’s regular trading while Netflix and Microsoft added 1.8% and 2.8%, respectively.

Investors continue to keep a watchful eye on Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses. Though Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi both said this week that the two sides are far away from an agreement, many investors believe a deal is inevitable.

The latest iteration of the Labor Department report on weekly jobless claims will be released Thursday morning. The weekly figures provide Wall Street with critical insight on how many Americans continue to collect unemployment benefits, known as continuing claims.

Another 1.1 million workers are expected to have filed first-time claims for state unemployment benefits during the week ended August 8. That would mark a deceleration from the prior week, though still well above any reading prior to the pre-Covid era. 
 

Plan A : Long if market supported firm above 10958.25. Targets are 10987.25, 11019.25 and 11048.50.

Plan B : Short if market failed to support above 10958.25. Targets are 10915.50, 10870.25 and 10828.75.