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The S&P 500 was little changed on Wednesday as the market rally stalled amid rising tensions in the Middle East.
The Dow Jones Industrial Average gained 39.55 points to conclude Wednesday to 42,196.52.
The much broader index skinned ahead 0.79 points to 5,709.54
The NASDAQ Composite gained 14.76 points to 17,925.12.
Nike slid more than 6% after the sneaker giant pulled full-year guidance ahead of its CEO change. Tesla dropped 3% after reporting delivery numbers, though the technology sector was buoyed by a rise in Nvidia.
That action follows a losing session after Iran’s firing of ballistic missiles on Israel dented risk appetite and investor enthusiasm for the new trading period. Investors are readying for more uncertainty as Israel begins a ground operation into Lebanon and tensions escalated with Iran-backed militant group Hezbollah.
ADP data released Wednesday showed better-than-expected private payroll growth in September. That comes ahead of Friday’s closely followed nonfarm payroll report, which could play a major role in the market’s direction and the Federal Reserve’s next rate move as its cutting cycle begins.
Prices for the 10-year Treasury sagged, raising yields to 3.78% from Tuesday’s 3.74%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.19 at $71.02 U.S. a barrel.
Gold prices let go of $11.10 to $2,679.20 U.S. an ounce
