US stocks were flat on Wednesday as concerns about economic growth and a diminished appetite for risk kept investors cautious, but higher crude oil prices lifted shares of energy companies such as Exxon Mobil Corp.
Investors scoured the market for beaten-down shares after the past week's sell-off. The February jobs report from the Labour Department, due on Friday, may shed light on the economy's health. There were also lingering concerns about rising loan defaults in the mortgage market for borrowers with sketchy credit profiles, with shares of Accredited Home Lenders Holding Co down 4.7 percent on the Nasdaq.
Shares of Boeing Co were the Dow's biggest advancer, up 1.4 percent, at $89.01 on the New York Stock Exchange, but their climb was countered by a 1.5 percent drop in shares of No 4 US credit card issuer American Express Co, to $55.53.
Exxon Mobil shares rose 1.5 percent to $72.07 on the NYSE as crude for April delivery jumped 1.7 percent, or $1.02, to $61.70 after a government report showed a surprise drawdown in US crude supplies. The Dow Jones industrial average was up 9.85 points, or 0.08 percent, at 12,217.44. The Standard & Poor's 500 Index was up 0.13 points, or 0.01 percent, at 1,395.54. The Nasdaq Composite Index was down 6.00 points, or 0.25 percent, at 2,379.14.