Investing.com - U.S. stocks finished Wednesday mixed due to uncertainty as to whether the European Central Bank will stimulate its economy on Thursday and whether the U.S. jobs report will come in solid on Friday.
At the close of U.S. trading, the Dow 30 rose 0.06%, the S&P 500 index fell 0.08%, while the NASDAQ Composite index fell 0.56%.
The Volatility S&P 500 index, which measures the outlook for market volatility, was up 0.90% at 12.36.
Stocks rose earlier after Ukraine's President Petro Poroshenko said he had agreed with Russian President Vladimir Putin to take steps to establish a "permanent ceasefire" in eastern Ukraine.
Putin later said his views were "very close" with Poroshenko on finding a political way out of the conflict.
Elsewhere, the U.S. Census Bureau reported earlier that factory orders rose 10.5% in July, below expectations for an increase of 11%, after a revised 1.5% rise in June, though markets largely viewed the data favorably.
By afternoon trading on Wednesday, stocks gave back some of their gains as investors jumped to the sidelines to await major market-moving data on Thursday and Friday.
Investors were eager for the European Central Bank's announcement on policy on Thursday, with many betting that the monetary authority will roll out stimulus measures to kick-start the economy after the euro area's annual inflation rate slowed to a five-year low last month.
On Friday, the U.S. will release its August nonfarm payroll report, and investors hope the data will serve as weather vane pointing to the direction of monetary policy, sidestepping the greenback ahead of time.
While U.S. economy continues to gain steam, Federal Reserve Chair Janet Yellen has expressed concern over slackness persistent in the labor market.
Leading Dow Jones Industrial Average performers included Merck & Company Inc (NYSE:MRK), up 1.15%, Cisco Systems Inc (NASDAQ:CSCO), up 0.64%, and Exxon Mobil Corporation (NYSE:XOM), up 0.63%.
The Dow Jones Industrial Average's worst performers included Home Depot Inc (NYSE:HD), down 2.36%, Nike Inc (NYSE:NKE), down 0.58%, and Caterpillar Inc (NYSE:CAT), down 0.42%.
European indices, meanwhile, ended the day higher.
After the close of European trade, the DJ Euro Stoxx 50 rose 1.14%, France's CAC 40 rose 0.99%, while Germany's DAX rose 1.26%. Meanwhile, in the U.K. the FTSE 100 rose 0.65%.
On Thursday, the U.S. is to release trade-balance data, the ADP report on private-sector job creation and the weekly report on initial jobless claims.
Also on Thursday, the ISM is to publish a report on U.S. service sector activity.