US stocks are little changed after payroll survey
NEW YORK (AP) — Stocks are little changed in early trading, a day after setting a record high, as traders were unimpressed by a slight increase in hiring at private companies last month.
The Standard & Poor’s 500 index was flat at 1,874 shortly after trading opened Wednesday.
The Dow Jones industrial average was down two points at 16,393 and the Nasdaq composite inched up two points to 4,354.
Brown-Forman rose 3 percent after the company reported better sales of its flagship Jack Daniel’s brand and other liquors.
Payroll processor ADP said businesses added 139,000 jobs last month, up from 127,000 in January, however January’s figure was revised sharply lower.
Bond prices fell slightly. The yield on the 10-year Treasury note edged up to 2.72 percent from 2.70 percent late Tuesday.