Wall Street Stocks Drift Amid Jobs Market Updates and Escalating US-Iran Tensions
Stocks traded listlessly on Wall Street on Wednesday as investors digested updates on the jobs market and the escalating conflict between the US and Iran.
The S&P 500 index rose a modest 0.1%, while the Dow Jones Industrial Average gained 265 points, or 0.5% by 9:58 am Eastern time. The Nasdaq composite fell 0.1% in morning trading.
The jobs market has been a key focus for Wall Street and the Federal Reserve, with inflation remaining stubbornly high despite a mostly resilient employment picture. Payrolls processing firm ADP reported that private-sector employment slipped in August, according to its monthly survey.
The government's broader monthly employment report for August is expected on Friday, which will be closely watched as it follows a government report on Tuesday showing US job openings rose in July.