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U.S. stocks waver after Yellen's speech

Xinhua, November 5, 2015 Adjust font size:

U.S. stocks traded in a narrow range in the morning session on Wednesday, as investors were looking for more clues on the timing of a rate hike.

At midday, the Dow Jones Industrial Average shed 42.92 points, or 0.24 percent, to 17,875.23. The S&P 500 lost 6.85 points, or 0.32 percent, to 2,102.94. The Nasdaq Composite Index was down 9.46 points, or 0.18 percent, to 5,135.67.

U.S. private sector added 182,000 jobs from September to October, beating market estimates, according to the ADP National Employment Report released Wednesday.

The ADP figure is watched closely as a pre-indicator for the non-farm payrolls report due Friday.

Traders will mainly look to non-farm payrolls this week for hints on the timing of the interest rate increase by the U.S. Federal Reserve.

Fed Chair Janet Yellen said Wednesday that a rate hike in December was a "live possibility," depending on data.

Meanwhile, Wall Street will also keep a close eye on comments from other Federal Open Market Committee members on Wednesday, including Vice Chair Stanley Fischer and New York Fed President William Duley.

The U.S. international trade deficit in goods and services came in at 40.8 billion U.S. dollars in September, down 7.2 billion dollars from revised 48 billion dollars in August, the Commerce Department said Wednesday.

U.S. stocks kept rising Tuesday, as investors were encouraged by a strong rebound in oil prices. Enditem