Major U.S. stock-indexes were little changed on Wednesday ahead of Federal Reserve Chair Janet Yellen's speech. Yellen will speak before the Economic Club of Washington. She also testifies on the economic outlook before a joint committee of Congress on Thursday.
Furthermore, data showed that the private sector added the most jobs since June as markets awaited clues from Yellen on an expected interest rate increase on Dec. 16. The economic data has not been playing ball with the Fed's policy plans in recent weeks and has been mixed at best. While construction spending has risen, there has been a sharp downturn in the manufacturing surveys along with weaker retail sales. However, job growth has been strong and Friday's employment report is expected to show that the U.S. economy added 200,000 jobs in November. Data on Wednesday showed U.S. private employers added 217,000 jobs in November, up from the 196,000 in October. Economists polled by Reuters had expected an addition of 190,000 jobs. The data could be an indication of the more comprehensive non-farm payrolls expected later in the week.
Most of Dow stocks in negative area (19 of 30). Top looser - Chevron Corporation (CVX, -1.27%). Top gainer - UnitedHealth Group Incorporated (UNH. 2.12%).
Most of S&P index sectors also in negative area. Top looser - Basic Materials (-1.6%). Top gainer - Technology ( 0,1%).
At the moment:
Dow 17828.00 -34.00 -0.19%
S&P 500 2093.00 -7.00 -0.33%
Nasdaq 100 4723.25 7.00 0.15%
Oil 40.62 -1.23 -2.94%
Gold 1054.40 -9.10 -0.86%
U.S. 10yr 2.18 0.03