Wall Street mostly fell after the flood of data

Wall Street mostly fell after the flood of data


Stocks on Wall Street ended mostly lower on Wednesday ( Thursday morning GMT ) , after the market considering the economic data flow is generally strong , ahead of U.S. jobs report on Friday's big ( 6/12 ) .

The Dow Jones Industrial Average lost 24.85 points ( 0.16 percent) to 15889.77 .

The broad-based S & P 500 fell 2.34 points, or 0.13 percent, to 1792.81 , while the tech -heavy Nasdaq composite index edged up 0.80 points, or 0.02 percent, to 4038.01 .

The market was in negative territory for most of the day after the company payroll ( payrolls ) ADP report strong job growth , the U.S. trade deficit declined and new home sales rose 25.4 percent in October compared with the previous month .

On the downside , the purchasing managers' index ( PMI ) services sector Institute for Supply Management fell to 53.9 , below the consensus estimate of 55 .

But peeling market losses after the Federal Reserve released the Beige Book report , which paints a picture of the general economic well after the closing portion of government activity in October .

Analysts were waiting for the monthly jobs report on Friday , which could be a signal whether the Federal Reserve is likely to speed up plans to pull back its bond purchases rogram .

Anthony Conroy , head of global trade at Bank of New York ConvergEx , said traders " are in the mood more profit taking " in anticipation of a reduction in the Fed's stimulus , most likely early 2014 .

"Everyone was looking at each of the data to try to get a sense of what the Fed will do , " said Conroy .

Conroy does not expect a big market swings before the Fed completed its next policy meeting on December 18 .

Agricultural equipment manufacturer Deere & Co . rose 3.2 percent after announcing it increases the share repurchase program for the eight billion dollars .

Retailer JC Penney fell 4.5 percent despite reporting a spike in sales of its stores by 10.1 percent in November from a year ago . Sterne Agee sales calls that " a step in the right direction , " but said the result was " certainly not heroic " given the aggressive promotion .

Express clothing retailer , dropped 23 percent after projecting a 66-71 fourth- quarter profit cents per share , well below the 78 cents projected by analysts .

Fertilizer company CF Industries jumped 10.7 percent after it said it would maintain or accelerate the share repurchase program is running .

Bond prices fell . The yield on U.S. government 10 - year futures rose to 2.84 percent from 2.78 percent on Tuesday , while the 30 - year bond rose to 3.91 percent from 3.84 percent . Prices and bond yields move in opposite directions , thus AFP