S&P 500 hits fresh record high

Most US stock indexes rose at the start of Wednesday’s session, with the S&P 500 hitting record levels, while the Dow Jones Industrial Average later turned slightly lower.

This comes as markets assess US labor market data, after today’s ADP report showed the US private sector added 41,000 jobs in December, below analysts’ expectations of 48,000.

Investors’ attention is now focused on the more comprehensive US nonfarm payrolls report due on Friday, with expectations that the US economy added 73,000 new jobs in December.

In trading, the Dow Jones Industrial Average was down by 0.4%, or about 200 points, at 49,263 points by 15:50 GMT. The broader S&P 500 index rose by 0.1%, or around 5 points, to 6,949 points, while the Nasdaq Composite climbed by 0.4%, or 96 points, to 23,643 points.