* Euro zone finance ministers put off Greece talks
* U.S. private sector adds most jobs since December
* Financials biggest boost, energy stocks down
* Chubb jumps after ACE’s buyout offer
* Indexes up: Dow 0.53 pct, S&P 0.47 pct, Nasdaq 0.35 pct (Changes quote, updates prices)
By Sweta Singh
July 1 (Reuters) - U.S. stocks shed some of their gains on Wednesday after euro zone finance ministers put off further bailout talks until after Sunday’s referendum in Greece.
Stronger-than-expected jobs and construction data supported the market, as did a $28 billion offer from Swiss insurance giant ACE to buy upmarket property insurer Chubb.
Greek Prime Minister Alexis Tsipras urged voters to reject bailout terms in the referendum, a day after the country became the first advanced nation to default on an IMF loan repayment.
“There were hopes of a deal earlier in the morning and the hopes are literally taken off the table,” said Adam Sarhan, chief executive of Sarhan Capital in New York.
U.S. private employers added 237,000 jobs in June, the biggest gain since December, while construction spending rose in May to its highest level in just over 6-1/2 years.
The U.S. Federal Reserve has said it will raise rates only if it sees a sustained recovery in the economy.
“As long as the Fed raises rates because there is economic expansion and not because of inflation, it is a positive for equities because that means corporations can continue to grow earnings,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
Cardillo, however, said investors remained cautious ahead of monthly employment data on Thursday.
At 13:40 a.m. EDT (1740 GMT) the Dow Jones industrial average was up 94 points, or 0.53 percent, at 17,713.51, the S&P 500 was up 9.66 points, or 0.47 percent, at 2,072.77 and the Nasdaq Composite was up 17.38 points, or 0.35 percent, at 5,004.24.
Nine of the 10 major S&P 500 sectors rose, barring the energy sector which was hit by a slide in oil prices.
Chubb’s shares jumped 29 percent to $122.72. Rival Travelers rose 2.4 percent, providing the biggest boost to the Dow. ACE was up 1.9 percent.
Casino stocks jumped for a second straight day, following better-than-expected monthly gaming revenue in Macau. Melco Crown rose 4.5 percent, Wynn Resorts 5.2 percent and Las Vegas Sands 2.9 percent.
Teladoc Inc made a big splash in its debut on the New York Stock Exchange with shares of the on-demand medical consultation provider rising 67 percent to $31.65.
Advancing issues outnumbered decliners on the NYSE by 1,846 to 1,166, for a 1.58-to-1 ratio on the upside. On the Nasdaq, 1,483 issues rose and 1,225 fell for a 1.21-to-1 ratio favoring advancers.
The S&P 500 index showed 11 new 52-week highs and 22 new lows, while the Nasdaq recorded 72 new highs and 71 new lows. (Additional reporting by Siddharth Cavale in Bengaluru; Editing by Saumyadeb Chakrabarty)