Stocks struggled to determine direction as Wall Street took a slight pause after two days of record-making runs. The S&P 500 had closed at records on Monday and Tuesday. Crude oil pulled back from its highest levels in roughly a week after a read on crude inventories showed a smaller-than-expected decline. The EIA reported a 2.2-million-barrel decline in stocks over the past week. Metlife (MET) was downgraded to hold with a $44 price target from buy at Deutsche Bank. Analysts said the financial institution lacks near-term catalysts. Michaels (MIK) tumbled after announcing a secondary offering of 11 million shares, one million of which it would repurchase. The arts and crafts retailer also reduced second-quarter earnings forecasts below consensus.
More from Video
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Breaking down an approach to the long side of this biotech stock.