Wall Street’s major averages finished mixed on Wednesday as newly-released data pointed to slowing U.S. growth.
The Dow Jones Industrial Average rose 80.34 points, or 0.24 percent, to 33,482.72. The S&P 500 declined 10.22 points, or 0.25 percent, to 4,090.38. The Nasdaq Composite Index shed 129.46 points, or 1.07 percent, to 11,996.86.
Seven of the 11 primary S&P 500 sectors ended in red, with consumer discretionary and industrials down 2.04 percent and 1.3 percent, respectively, leading the laggards. Utilities rose 2.57 percent, the best-performing group.
The Institute for Supply Management reported Wednesday that the U.S. services PMI (Purchasing Managers’ Index) fell to 51.2 percent in March from 55.1 percent in February. The report highlighted expansion of the services sector but missed analyst estimates.
Elsewhere, payroll services firm ADP said that U.S. private payrolls rose by 145,000 in March, down from 261,000 in February and well below economists’ estimate of 210,000.
The reports came one day after data showing the number of U.S. job openings in February fell to 9.9 million, the lowest level since May 2021.
The more closely-watched March U.S. employment situation report, which will include employment data from both the private sector and the government, is slated for release on Friday by the Labor Department’s Bureau of Labor Statistics.
