The S&P 500 fell for a third straight session on Tuesday even after Congress approved a long-delayed coronavirus relief package.

The broad equity benchmark dipped 0.2%, or 7.66 points, to 3,687.26 in relatively thin trading.  

Equity investors could be taking chips off the table after registering solid gains in 2020. With less than two weeks left, the S&P 500 is up more than 14% for the year. 

On the data front, a final reading showed third-quarter gross domestic product grew 33.4% on an annualized basis, compared to 33.1% expected. Meanwhile, U.S. consumer confidence fell for the second straight month in December and missed expectations.

Plan B : Short if market failed to support above 3664. Targets are 3638, 3613 and 3585.
 

U.S. stock futures fell in overnight trading on Tuesday after President Donald Trump expressed concerns about the new Covid-19 relief package which could delay the deployment of funds to struggling Americans.

The Nasdaq Composite eked out a 0.5% gain to close at 12,807.92, a new record. The tech-heavy index was supported by a 2.9% jump in Apple shares amid investor enthusiasm around its reported foray into self-driving vehicles.

The Nasdaq Composite has soared 42.7% this year as traders stuck with their tech darlings during the pandemic.

The Nasdaq Composite was the outperformer on Tuesday, closing up 0.5% at a new record as Amazon, Apple and Microsoft all closed higher. Stationary bike company Peloton popped 11%.

Last week’s jobless claims numbers come out on Wednesday at 8:30 a.m. ET. Economists polled by Dow Jones are expected 888,000 Americans filed for unemployment last week, more than the previous week’s 885,000.

Plan B : Short if market failed to support above 12642. Targets are  12600, 12558 and 12519.