Wall Street Wavers Despite Strong ADP Data

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U.S. equity markets wobbled in a tight range Wednesday as traders parsed through stronger-than-expected data on the jobs market.

Today's Markets

As of 9:32 a.m. ET, the Dow Jones Industrial Average rose 2.3 points, or 0.01%, to 16958, the S&P 500 was little changed at 1973 and the Nasdaq Composite climbed 1.9 points, or 0.05%, to 4461.

The blue-chip average came within less than two points of the 17000 milestone for the first time ever on Tuesday. However, the Dow failed to hold the gains.

A duo of closely-watched economic reports could help provide direction on Wednesday.

Payroll processor ADP reported the private sector tacked on 281,000 jobs last month, widely topping Wall Street estimates of an increase of 200,000.

Meanwhile, factory orders, a broad measure of factory activity, are forecast to have slipped by 0.3% on a month-to-month basis in May.

Elsewhere, U.S. crude oil futures fell 41 cents, or 0.39%, to $104.93 a barrel. Wholesale New York Harbor gasoline dipped 0.7% to $3.077 a gallon. Gold advanced $1.40, or 0.11%, to $1,328 a troy ounce.