U.S. stock futures were modestly higher early Friday as Wall Street looked to shake off a broad sell-off during market hours.

The moves come after the stock market struggled on Thursday, with tech stocks being particularly hard hit. The Nasdaq Composite fell 3%, with Apple and Amazon seeing slightly larger losses. The Dow and S&P 500 slipped 0.5% and 1.5%, respectively.

The weakness in stocks was mirrored by a spike in bond yields, with the benchmark 10-year Treasury yield breaking above 1.7%, its highest level since January of last year. Yields move inverse of prices. Rising bond yields, which can signal confidence about the economic recovery and fears about inflation, make high growth stocks look less attractive to investors.

Energy stocks were also hit hard on Thursday, with the price of West Texas Intermediate crude sliding by more than 7%. The slow rollout of vaccines and rise in Covid cases in Europe have weighed on the near-term demand outlook for oil.

Plan A : Long if market supported firm above 3918. Targets are 3934, 3949 and 3968.

Plan B : Short if market failed to support above 3918. Targets are 3892, 3869 and 3846.

Technology shares led the U.S. stock market lower on Thursday as a spike in bond yields fueled concern about equity valuations and prompted investors to sell growth-focused high flyers.

The Nasdaq Composite dropped 3% to 13,116.17 for its worst day since Feb. 25 as Apple, Amazon and Netflix all fell more than 3%. Tesla slipped nearly 7%. 

Investors also digested a mixed bag of economic data Thursday. Weekly initial jobless claims totaled 770,000 for the week ended March 13, worse than an estimate of 700,000, according to economists polled by Dow Jones.

Meanwhile, the Philadelphia Federal Reserve’s manufacturing index showed a reading of 51.8, well exceeding Dow Jones consensus of 22.0 and hitting the highest level for the gauge since 1973.

Plan A : Short if market failed to support above 12934. Targets are 12890, 12848 and 12800.

Plan B : Long only if market supported firm above 12934. Targets are 12965, 12998 and 13029. 
 

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Plan A : Remain sell as long as oil price trades below 61.1. Targets are 58.8 and 57.8. 

Plan B : Consider long only if oil price able to trade firmly above 58.8 and rebound. Targets are 59.9 and 60.6.