Midnight Trader | Apr 03, 2013 04:25PM ET
U.S. stocks finished lower Wednesday, with the Dow and S&P pulling back from their recent record highs following some disappointing economic data.
Futures looked like they were going to open in the green in the pre-bell session, but turned mixed prior to the open after the government issued its monthly ADP report showing the economy added 158,000 private-sector jobs in March, well below the 205,000 consensus forecast of economists.
Losses accelerated following the release of the ISM services Index, which slightly missed the mark, adding to the negative tone. The ISM services number came in at 54.4, down from 56.0 in the prior month and contrasted to consensus forecasts for a more modest pull back to 55.5. The reading was the lowest since August, mirroring Monday's lower-than-expected ISM manufacturing data.
After this week's economic data came in mixed, all eyes are on Friday's employment report as the next major data point that will dictate market direction.
Commodities finished mostly lower. Oil shed 2.77% to close at $94.50 a barrel while gold lost 1.42% to end at $1,556.30 per ounce.
Here's Where The Markets Stood At Day's End
Copyright © 2013 MT Newswires, a Division of MidnightTrader, Inc.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.