U.S. stocks were mixed even as the tech sector rebounded after recent selloffs. The S&P 500 and the Dow closed lower, while the Nasdaq finished in the green.

Shares of Facebook Inc. (FB) rose after Evercore ISI said the social media giant will lead the "FANG" stocks higher in 2018 with no correction in sight. The firm initiated coverage of Facebook with a $225 price target and an "Outperform" rating.

Bitcoin climbed above $13,000 in afternoon trading. The volatile cryptocurrency reached its new record high less than 24 hours after $12,000.

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