US STOCKS-Gains in financials, energy shares lift Wall Street

miércoles 3 de agosto de 2016 11:16 GYT

* 179,000 private sector jobs added in July vs est. 170,000

* AIG rises on profit beat

* Kate Spade falls after cutting forecast

* Indexes up: Dow 0.14 pct, S&P 0.1 pct, Nasdaq 0.1 pct (Adds details, comments, updates prices)

By Yashaswini Swamynathan

Aug 3 (Reuters) - Wall Street was higher in choppy trading on Wednesday as strong jobs data helped financial stocks, while a recovery in oil prices boosted energy shares.

Data showed the U.S. private sector added 179,000 jobs in July, beating estimates of 170,000. The ADP national employment report is seen as a precursor to the more comprehensive jobs data on Friday.

If the labor market is able to build on its recent strength, it could make the case for the Federal Reserve to raise interest rates later this year.

"I think any kind of strength in the overall economy does help the financials because it increases the prospects of the Fed being able to raise interest rates," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York.   Continuación...