U.S. stocks were little changed on Wednesday, but the Nasdaq Composite derailed a four-session losing streak, as investors mulled the economic climate and tracked events in Ukraine.
"My recent research last week told me the market looked a little tired, the market was at record highs for the prior two days of last week, and the situation with Ukraine and Russia is still percolating," said Randy Frederick, director active trading and derivatives at the Schwab Center for Financial Research.
Therefore, "it doesn't surprise me that there's some profit taking and a bit of a pullback," said Frederick, who views the 1,848 level as support for the S&P 500.
Express fell after the apparel retailer posted fourth-quarter earnings and a current-quarter profit outlook that missed estimates. Shares of Herbalife declined as the Federal Trade Commission opened a formal probe into the seller of nutritional supplements. Pfizer dropped after saying a court had invalidated a key patent behind its blockbuster Celebrex drug, and that it plans to appeal the decision.