Stocks struggle after recent rally

NEW YORK (CNNMoney.com) -- Technology shares managed gains Tuesday afternoon while the broader market retreated in choppy trading as investors considered the fate of the automakers and opted to retreat after the recent run.
The Dow Jones industrial average (INDU) declined by 0.9% with around 3 hours left in the session. The Standard & Poor's 500 (SPX) index was barely changed and the Nasdaq composite (COMP) gained 0.9%
Stocks had been on both sides of unchanged through the session as investors digested the day's batch of negative corporate news and kept an eye on the latest news on a potential automaker loan package.
An agreement on a loan package for the auto industry had been expected late Monday. But lawmakers were still debating the details Tuesday, with a package now expected later today.
The back-and-forth was perhaps causing some of the stock weakness Tuesday, with investors eager to see a resolution, said Ron Kiddoo, chief investment officer at Cozad Asset Management.
"The automaker talk is part of it, but really we've had some pretty good moves off that Nov. 20 low and so people are taking a breather," he said.
Since hitting the most recent bear market lows on Nov. 20, stocks, as represented by the S&P 500, have risen 21% through Monday's close.
Monday was a big day on Wall Street, with all three major gauges gaining at least 3.5% in response to President-elect Barack Obama's plan to create 2.5 million jobs by 2011 and reports that a bailout for the automakers is en route.