US stocks are little changed after payroll survey

Published on NewsOK Modified: March 5, 2014 at 3:12 pm •  Published: March 5, 2014
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NEW YORK (AP) — Stocks wound up pretty much where they started after a report of modest hiring gains at U.S. businesses failed to excite investors.

The Standard & Poor's 500 closed down a fraction of a point at 1,873 Wednesday. The index closed at an all-time high the day before as tensions eased in Ukraine.

The Dow Jones industrial average lost 35 points, or 0.2 percent, to 16,360. The Nasdaq composite edged up six points, or 0.1 percent, to 4,357.

Payroll processor ADP said U.S. businesses added 139,000 jobs last month, up slightly from January.

Exxon Mobil fell 3 percent. The company said it would cut capital spending this year.

Brown-Forman rose 4 percent after the company reported better sales of its flagship Jack Daniel's brand and other liquors.