NEW YORK: US stocks were higher in early trade Wednesday after a stream of mixed economic data.
Around an hour into trade, the Dow Jones Industrial Average rose 31.63 (0.20 percent) to 15,946.25.
The broad-based S&P 500 tacked on 3.53 (0.20 percent) to 1,798.68, while the tech-rich Nasdaq Composite Index added 12.54 to 4,049.74.
Fresh jobs and trade data bested expectations, while a reading of non-manufacturing activity for November was disappointing.
US private-sector hiring surged to 215,000 net new jobs created in November, payrolls firm ADP said. And the US foreign trade deficit narrowed to $40.6 billion in October on a strong rise in exports.
But the Institute for Supply Management's purchasing managers index for service sector activity fell to 53.9, below the 55 seen by analysts.
Markets have been moving based on expectations of when the US Federal Reserve could scale back its bond-buying markets. Stocks moved into positive territory shortly after the ISM report was released, suggesting markets may see the report as implying a slower taper timeframe.
Citigroup dipped 0.7 percent after Goldman Sachs removed it from its "conviction buy" list following its surge over the last year.
Retailer JC Penney fell 4.6 percent despite reporting a 10.1 percent jump in comparable store sales in November over last year. The company said it is "pleased" with its performance over the critical Thanksgiving holiday weekend.
Apparel retailer Express plummeted 20.3 percent after projecting fourth-quarter earnings of 66-71 cents per share, well below the 78 cents seen by analysts. The company plans to "intensify" its holiday promotions strategy following Thanksgiving week sales that "did not meet our expectations."
Fertilizer company CF Industries shot up 9.7 percent after suggesting it would maintain its ongoing share buyback program.
Sears Holding Corp. fell 6.9 percent following reports that hedge fund Edward Lampert cut his stake in the retailer below 50 percent.
Bond prices fell. The yield on the 10-year US Treasury rose to 2.84 percent from 2.78 percent Tuesday, while the 30-year increased to 3.89 percent from 3.84 percent. Bond prices and yields move inversely.
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