Stocks fell on Wednesday, retreating from the record highs set earlier in the day, as tech shares struggled and traders weighed the prospects of new fiscal stimulus.

The Dow closed 105.07 points lower, or 0.35%, at 30,068.81. The S&P 500 fell 0.8% to 3,672.82. The Nasdaq Composite pulled back by 1.9% to close at 12,338.95. All three averages also touched fresh intraday records.

Apple was among the worst-performing Dow components, falling more than 2%. Salesforce dropped 3.2%. The S&P 500 tech sector fell 1.9% to lead the index lower. Facebook declined 1.9% after the Federal Trade Commission, along with several states, filed lawsuits that could force the social media giant to divest Instagram and WhatsApp.


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Plan A : Long if market doesn't retrace much and supported firm above 3673. Targets are 3687, 3705 and 3719.

Plan B : Short if market failed to support above 3673. Targets are 3648, 3620 and 3595.
 

U.S. stock index futures dipped slightly early Thursday as investors continued to assess progress on additional stimulus measures, as well as developments on the Covid-19 vaccine front.

During regular trading hours on Wednesday stocks rose to record highs. But the gains were ultimately short-lived, and the major averages wound up closing in the red.

The Nasdaq Composite pulled back by 1.9% for its worst day since Oct. 30. The tech-heavy index also snapped a four-day winning streak.

The ongoing negotiations come as the Covid-19 crisis worsens in the U.S. But the rollout of Pfizer’s vaccine in the U.K., which began on Tuesday, has spurred some optimism. And some Wall Street strategists believe a widely available vaccine will lift stocks to new highs in 2021.

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Plan A : Long if market retraced but supported firm above 12282. Targets are 12310, 12346 and 12369.

Plan B : Short if market failed to support above 12282. Targets are 12243, 12200 and 12165.