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.
