Wednesday, December 3, 2014

Markets Little Changed Pending News

U.S. stocks opened little changed from Tuesday's close, which had the Dow at a record high, as investors weigh a slew of data expected over the next two days.
The European Central Bank is expected to discuss monetary policy on Thursday.
U.S. stock index futures point to a flat to slightly lower start on Wednesday, as a record Wall Street finish on Tuesday fueled gains in Asian and European trade. 
The day is a busy one for U.S. data. First out was the ADP report on private payrolls,  showing sector employment is keeping up its recent pace in November, though the 208,000 new jobs was a shade below expectations.
U.S. non farm productivity grew a bit faster than initially thought in the third quarter, while sharp downward revisions to compensation pointed to muted wage inflation  that should give the Federal Reserve room to keep interest rates low for a while.
Other data for Wednesday include the ISM services survey and the Federal Reserve's Beige Book report on the economy.
The Dow Jones Industrial Average opened down 10.1 points, or 0.06 percent, at 17,867.58, with P&P the greatest decliner and Caterpillar leading the 12 blue-chip advancers.
The S&P 500 gained 0.77 points, or 0.04 percent, at 2,067.20, with energy and industrials leading sector gains and telecommunications the greatest of four sector decliners.
The Nasdaq opened up 2.16 points, or 0.05 percent, at 4,758.95.
Eight stocks advanced for every five decliners on the New York Stock Exchange, with an exchange volume of 59.1 million and a composite volume of 158.7 million in the open.

The benchmark 10 year Treasury note yield rose to 2.30 percent. The U.S. dollar traded at highs against major world currencies.

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