Wall Street stocks dipped early on Wednesday as diminished expectations for Ukraine-Russia peace prospects threatened the Dow’s four-day winning streak.
AFP
March 30, 2022 / 07:38 PM IST
Wall Street stocks dipped early on Wednesday as diminished expectations for Ukraine-Russia peace prospects threatened the Dow’s four-day winning streak.
Kyiv on Wednesday accused Moscow of shelling a city where it had promised deescalation, casting a pall following upbeat comments from both countries about negotiations held Tuesday.
The latest developments lifted crude prices.
About 15 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 35,260.63.
The broad-based S&P 500 shed 0.3 percent to 4,618.29, while the tech-rich Nasdaq Composite Index slid 0.5 percent to 14,554.08.
Payroll services firm ADP reported US private employers hired 455,000 people this month, slightly more than forecast but less than the upwardly revised 486,000 positions added in February.
The data, which comes ahead of Friday’s government jobs report, shows the American labor market remains healthy even as the wider economy struggles with inflation and supply shortages.
Among individual companies, Lululemon Athletica jumped 6.7 percent as the apparel companies unveiled a $ 1 billion stock repurchase program and reported strong results that included a 23 percent surge in quarterly revenues to $ 2.1 billion.
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