U.S. stocks edge higher after mixed U.S. data; Dow rises 0.24%

Investing.com - U.S. stocks were slightly higher on Wednesday, following the release of mixed U.S. data on service activity and employment.

During early U.S. trade, the Dow Jones Industrial Average rose 0.24%, the S&P 500 index eased up 0.40%, while the Nasdaq Composite index posted a 0.83% increase.

Earlier Wednesday, the U.S. Institute for Supply Management said its services index dipped to 53.0 last month from 53.3 in August but employment in the sector fell to its lowest level since April 2010.

A separate report showed that U.S. non-farm private employment rose more-than-expected in September, increasing by 91K from a downwardly revised 89K the previous month.

On the technology front, Research in Motion saw shares jump 14.38% amid market rumors that Vodafone may be taking a look at the Blackberry maker, while Vodafone shares edged up 0.04%.

Hewlett-Packard shares gained 3.04% even after JPMorgan resumed coverage on the IT company with an "underweight" rating, while Google saw shares tumble slide 1.76%, after Stifel investment firm cut its ratings on the search-engine giant from "hold" to "buy".

On the downside, U.S. lenders edged lower, with shares in Citigroup tumbling 2.30% and Goldman Sachs dropping 2.11%, while Bank of America fell 1.22% and JPMorgan saw shares decline 0.53%.

Shares in Sprint Nextel communications company fell 1.15%, after saying it will sell the next version of Apple's iPhone, ending months of speculation on whether it would become the third U.S. operator to sell the popular device.

Apple was also down, with shares dropping 0.45%, after disappointing iPhone enthusiasts with a new version of the iPhone 4 and no iPhone 5.

In earnings, Costco Wholesale Corp shares were down 2.22% after the company said it missed fourth-quarter earnings and revenue expectations, while fast food chain operator Yum Brands saw shares decline 2 % after reporting a quarterly profit in line with expectations but failing to ease investors' concerns about slowing growth in China, its biggest market.

Other stocks in focus included Bank of New York Mellon, which has been sued by New York federal and state prosecutors who are accusing the bank of cheating clients in foreign exchange transactions.

Across the Atlantic, European stock markets remained broadly higher. The EURO STOXX 50 surged 3.80%, France’s CAC 40 rose 3.87%, Germany's DAX soared 4.37%, while Britain's FTSE 100 jumped 3.06%.

During the Asian trading session, Hong Kong’s Hang Seng Index dropped 3%, while Japan’s Nikkei 225 Index fell 1.2%.