US STOCKS-Wall St flat after ADP as investors look to payrolls

miércoles 2 de julio de 2014 14:15 GYT
 

* Eyes on payrolls after ADP data tops expectations

* Rackspace shares up on report it may go private

* JPMorgan falls, CEO says will be treated for cancer

* Dow up less than 0.1 pct, S&P 500 and Nasdaq flat (Updates to afternoon trading)

By Ryan Vlastelica

NEW YORK, July 2 (Reuters) - U.S. stocks were little changed on Wednesday as a positive read on private sector employment wasn't enough to get investors to keep buying ahead of the release of the closely watched June payrolls report on Thursday.

The Dow was 0.2 percent below the 17,000 level and approached within 15 points of the milestone, while the S&P 500 was less than 1.5 percent under its own landmark of 2,000. Both levels could serve as psychological barriers as the market trades at record highs.

The day was quiet, with volume low and the S&P's intraday range a mere 0.2 percent, the fourth narrowest since 1982, according to MKM Partners. The CBOE Volatility index fell 3.9 percent and remained at very low levels from a historical perspective.

U.S. private employers hired 281,000 workers in June, far exceeding expectations for 200,000, data from payrolls processor ADP showed. The number bodes well for the government payroll data before the market opens on Thursday. About 212,000 jobs are expected in that report, down from May's 217,000.   Continuación...