U.S. stocks rose on Wednesday, closing out March and the first quarter on a high note as investors rotated back into high-growth tech while weighing President Joe Biden’s big infrastructure spending plan.

The S&P 500 ended the session 0.4% higher at 3,972.89 after jumping 0.9% to hit a fresh intraday record high.The 

Classis cyclical sectors including energy, materials, financials and industrials all registered losses on Wednesday, while the S&P 500 tech sector outperformed with a 1.5% gain.

Investors await the key March jobs report on Friday to assess the state of the labor-market recovery. Economists expect 630,000 jobs were added in March, and the unemployment rate fell to 6% from 6.2%, according to Dow Jones.

Plan A : Short only if market failed to support above 3939. Targets are 3911, 3890 and 3868.

Plan B : Long if market retraced but supported firm above 3939. Targets are 3951, 3972 and 3990.

U.S. stock futures were higher in early Thursday morning as Wall Street looked to build on a solid March following the rollout of President Joe Biden’s infrastructure plan.

The tech-heavy Nasdaq Composite popped 1.5% to 13,246.87 as Apple, Microsoft and Facebook all gained at least 1.6%. Tesla popped more than 5%. 

The Nasdaq was the relative underperformer as technology stocks are especially sensitive to rising rates because they depend on borrowing money cheaply to invest in their future growth. For March, the tech-heavy benchmark gained 0.4%. For the quarter, it gained 2.8%.
 

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Plan A : Long if market retraced but supported firm above 13068. Targets are 13097, 13131 and 13163.

Plan B : Short only if market failed to support above 13068. Targets are 13030, 12980 and 12949.

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Plan A : Consider buy if market supported above 59.4 and rebound. Targets are 59.9 and 60.6.

Plan B : Remain short as long as oil price stays below 59.9. Targets are 59.4 and 58.8.

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