Investing.com – U.S. stocks posted modest gains after the open on Wednesday, as investors awaited a critical Federal Reserve decision and following significantly better-than-expected ADP non-farm payrolls data.
During early U.S. trade, the Dow Jones Industrial Average eased up 0.13%; the S&P 500 index added 0.12%, while the Nasdaq Composite index gained 0.02%.
Earlier in the day, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 43K in October, after falling by a revised 2K in September. Analysts had expected non-farm private sector employment to increase by 25K in October.
In the financial sector, U.S. listed shares of Lloyds Banking Group soared 3.02% after it appointed the current head of Spain’s largest lender Banco Santander Antonio Horta-Osorio as its new chief executive officer. U.S. listed shares in Banco Santander were down 1.91% following the news.
Meanwhile, in earnings news, shares in internet service provider AOL jumped 6.92% after it said third-quarter profit more than doubled to USD 172 million, up from USD 74 million a year earlier.
Elsewhere, shares in online restaurant-reservation service OpenTable soared 10.39% after it said third-quarter net income rose to USD 5.6 million, beating expectations. The company said third-quarter revenue increased by 44% to USD 24.5 million.
But shares in the world’s largest brewer Anheuser-Busch InBev tumbled 2.99% after it said third-quarter profit fell by 7.2% to USD 1.43 billion, down from USD 1.55 billion a year earlier.
Meanwhile, across the Atlantic, European stock markets were mixed: France’s CAC 40 rose 0.16%; Germany's DAX gained 0.07%; Britain's FTSE 100 eased down 0.02%; while the EURO STOXX 50 shed 0.16%.
Later in the day, the U.S. was set to publish industry data on service sector growth. Meanwhile, the Federal Reserve was to announce its November rate statement. The announcement was widely expected to unveil a fresh round of Treasury bond purchases designed to support the U.S. economic recovery.
During early U.S. trade, the Dow Jones Industrial Average eased up 0.13%; the S&P 500 index added 0.12%, while the Nasdaq Composite index gained 0.02%.
Earlier in the day, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 43K in October, after falling by a revised 2K in September. Analysts had expected non-farm private sector employment to increase by 25K in October.
In the financial sector, U.S. listed shares of Lloyds Banking Group soared 3.02% after it appointed the current head of Spain’s largest lender Banco Santander Antonio Horta-Osorio as its new chief executive officer. U.S. listed shares in Banco Santander were down 1.91% following the news.
Meanwhile, in earnings news, shares in internet service provider AOL jumped 6.92% after it said third-quarter profit more than doubled to USD 172 million, up from USD 74 million a year earlier.
Elsewhere, shares in online restaurant-reservation service OpenTable soared 10.39% after it said third-quarter net income rose to USD 5.6 million, beating expectations. The company said third-quarter revenue increased by 44% to USD 24.5 million.
But shares in the world’s largest brewer Anheuser-Busch InBev tumbled 2.99% after it said third-quarter profit fell by 7.2% to USD 1.43 billion, down from USD 1.55 billion a year earlier.
Meanwhile, across the Atlantic, European stock markets were mixed: France’s CAC 40 rose 0.16%; Germany's DAX gained 0.07%; Britain's FTSE 100 eased down 0.02%; while the EURO STOXX 50 shed 0.16%.
Later in the day, the U.S. was set to publish industry data on service sector growth. Meanwhile, the Federal Reserve was to announce its November rate statement. The announcement was widely expected to unveil a fresh round of Treasury bond purchases designed to support the U.S. economic recovery.