Stocks Little Changed as More Labour Data Awaited

U.S. stocks wavered Wednesday as investors assessed economic data indicating inflation is falling.

The Dow Jones Industrials moved upward 16.96 points, off its highs of the morning, at 36,141.52.

The S&P 500 inched higher 1.02 points to 4,568.20.

The NASDAQ gained 10.69 points to 14,240.60.

Stocks cooled from earlier advances, with the Dow at one up point up nearly 170 points. A drop in labor costs boded positively for the path of inflation, while a jump in productivity signaled the potential for the economy to skirt a recession. Private payroll data from ADP offered the latest indication that the job market, long considered a pain point for the Federal Reserve, was easing.

Cloud company Box tumbled nearly 9% after reporting third-quarter results that came in below analyst expectations. On the other hand, homebuilder stock Toll Brothers gained more than 3% after exceeding expectations on the top and bottom lines.

Prices for the 10-year Treasury picked up ground, dropping yields to 4.11% from Tuesday’s 4.17%. Treasury prices and yields move in opposite directions.

Oil prices faded $2.99 to $69.33 U.S. a barrel.

Gold prices regained $11.30 to $2,047.60.