Wall Street largely marched in place Wednesday, one day after the S&P 500 and the Nasdaq set record closing highs for the first time since last fall.

The major indices posted minimal declines - giving investors a chance to digest the market's sharp recovery, says Michael Hans, chief investment officer at Clarfeld Financial Advisors.

SOUNDBITE: MICHAEL HANS, CHIEF INVESTMENT OFFICER, CLARFELD FINANCIAL ADVISORS (ENGLISH) SAYING: "Just be cognizant of what you own.

Think about how you were reacting in the fourth quarter of last year.

If there was anything you wish you had done back then, you now have a second chance to do it.

So if there were specific positions, if it was credit exposure, anything that gave you some level of anxiety - that's what we talked to a lot of clients ... now you're in the position -again - off of those lows in December - 25 percent plus higher - this is a great time to consider to really think about the appropriateness of those specific portfolios." Another reason to pause?

A day of less-than spectacular corporate results.

Boeing ditched its financial outlook for the year, warning lower production of its fast-selling 737 MAX jet has cost it at least $1 billion so far.

The world's largest planemaker was forced to ground the plane after two deadly crashes in five months.

But some investors were surprised Boeing's quarterly update wasn't worse, and pushed the stock higher.

Results out of Caterpillar - suggests the Chinese economy continues to struggle.

China accounts for 10 percent of company sales.

Outside of earnings, a major takeover battle brewing in the oil patch.

Occidental Petroleum is offering to buy Anadarko Petroleum for a $57 billion price tag; that tops a $50 billion buyout already on the table from Chevron.

Both suitors want their hands on Anadarko's vast shale oil deposits.