NEW YORK (AP) — Stocks are edging higher after a report on private employment showed a modest pickup in hiring.
Payroll company ADP says employers added 42,000 jobs last month, slightly better than forecast.
Reports that beat expectations have largely sent stocks higher in recent days because they provide reassurances that while a recovery might be slow, the economy isn’t falling back into a recession.
Investors are also awaiting a key reading on the services sector due out later Wednesday.
The Dow Jones industrial average is up 7.50, or 0.1 percent, at 10,643.95. The Standard & Poor’s 500 index is up 1.51, or 0.1 percent, at 1,121.97, while the Nasdaq composite index is up 6.78, or 0.3 percent, at 2,290.30.
