The S&P 500 fell marginally from a record high in a late-day sell-off on Thursday after a report said Pfizer is dialing back its coronavirus vaccine rollout plan for this year due to supply chain issues.

The broad equity benchmark dipped just 2.29 points, or less than 0.1%, to 3,666.72 after hitting an all-time high earlier in the session.

Major averages cut gains quickly in the final hour of trading after Dow Jones reported Pfizer now expects to ship half of the doses it had previously planned this year after finding raw materials in early production that didn’t meet its standard.

Earlier in the session, sentiment was boosted by better-than-expected jobs data. First-time claims for unemployment insurance totaled 712,000 last week, lower than an estimate of 780,000 from economists surveyed by Dow Jones. Jobless claims also reached a pandemic-era low as the labor market showed resilience even in the face of a worsening pandemic.

The Labor Department is set to release its closely watched jobs repory for November on Friday. The U.S. economy is expected to have added 440,000 jobs, a slowdown from 638,000 in October, according to Dow Jones.

Plan A : Short if market failed to support above 3652. Targets are 3627, 3602 and 3570.

Plan B : Long if market doesn't retrace much and supported firm above 3652. Targets are 3665, 3683 and 3701.

Stock futures were mildly higher in early morning trading on Friday as investors awaited a key November jobs report to gauge the pace of labor market recovery in the face of a worsening pandemic.

The Nasdaq Composite rose 27.82 points, to 12,377.18. The Nasdaq Composite eked out a 0.2% gain after hitting an intraday record high.

The rate of job gains likely slowed in November due to the spike in new coronavirus cases that led to fresh lockdown restrictions. The U.S. economy is expected to have added 440,000 jobs, compared 638,000 in October, according to Dow Jones. The unemployment rate is estimated to have decreased to 6.7% from 6.9%.

On Thursday, the stock market was hit by a report showing details about Pfizer’s coronavirus vaccine’s rollout. Major averages swiftly fell to their session lows after Dow Jones reported said Pfizer expects to ship half of the Covid-19 vaccines it originally planned for this year due to supply-chain problems.

Still, Pfizer and BioNtech are on track to roll out 1.3 billion vaccines in 2021 and the 50 million dose shortfall this year will be covered as production ramps up, the report said.

Elsewhere, investors closely monitored progress toward a stimulus deal as lawmakers make a strong push to break a stalemate over how to boost an economy that continues to be hurt by the pandemic. 
 

Plan A : Long if market doesn't retrace much and supported firm above 12475. Targets are 12501, 12538 and 12570.

Plan B : Short if market failed to support above 12475. Targets are 12431, 12396 and 12350. 

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Plan A : Remain buy as long as oil price trades firmly above 45.4. Targets are 46.2 and 46.8    

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