US STOCKS-Wall St pares losses as oil rally boosts energy stocks
* S&P financial index hits more than 2-year low
* Private employers add more jobs than forecast in Jan
* Microsoft falls; biggest weight on the S&P 500, Nasdaq
* Indexes down: Dow 0.05 pct, S&P 0.58 pct, Nasdaq 1.08 pct (Updates to early afternoon)
By Tanya Agrawal
Feb 3 (Reuters) - U.S. stocks pared some of their losses in early afternoon trading on Wednesday as energy and materials stocks rose, driven by a 6 percent rally in crude oil prices.
Oil rose after investors took advantage of an earlier weakness in prices and a drop in the U.S. dollar.
DuPont's was up 3 percent and was the biggest boost to the S&P materials index, while Exxon's 2.4 percent rise lifted the energy index.
Earlier in the day, stocks fell after U.S. data showed that the economy's service sector expanded at a slower-than-expected rate, raising concerns that weakness in manufacturing was spreading to other areas of the economy. Continuación...