Investors are making few moves in early trading Wednesday after a private group's report showed job cuts declined in November for the eighth straight month, but not as much as forecast.
Major stock indexes are wavering after the ADP National Employment Report said 169,000 private sector jobs were lost in November, slightly worse than the 160,000 cuts expected by economists polled by Thomson Reuters.
The eighth straight decline in job losses provides further evidence the U.S. economy is recovering, but at a slow pace. A stabilization in job losses and eventual rehiring of workers is considered vital to a continued recovery.
The ADP report is considered a harbinger of the government's closely watched monthly employment report, which is due Friday. Economists are expecting the unemployment rate remained flat at 10.2 percent last month.
Later Wednesday, investors will look to the Federal Reserve's assessment of regional economic activity for further insight into the strength of the recovery.
Trading has been volatile in recent days as investors try to assess whether the massive gains in the stock market since early March are reflective of the economy's strength. Worries over debt problems in Dubai caused a temporary halt in buying last week. Those fears have since subsided, but there are lingering concerns about whether the economic recovery will be sustainable.
In early trading, the Dow Jones industrial average fell 10.05, or 0.1 percent, to 10,461.53 after surging past the 10,500 mark on Tuesday for the first time since last October.
The Standard & Poor's 500 index fell 0.63, or 0.1 percent, to 1,108.23, and the Nasdaq composite index rose 6.07, or 0.3 percent, to 2,181.88.
Yesterday’s Top Performing Small Cap stock:
Mariner's Choice International, Inc. (Pink Sheets: MCII) was a SmallCapVoice.com top performer yesterday closing up over 8% on trading volume of 77,500 shares.
Mariner's Choice International, Inc., a North American manufacturer of "green" eco-safe products, has recently delivered an initial shipment of 1,500 units from their Vima-San(TM) Hand Sanitizer product line to the Netherlands Antilles island of St. Maarten.
The prompt delivery for this initial order to Philipsburg Pharmacy, located in St. Maarten's capital city of Philipsburg, was coordinated with the medical community's robust roll-out of their H1N1 vaccination program throughout the island.
Mariner's Choice Vima-San(TM) Hand Sanitizer is a high quality, natural hand sanitizer with a 99.99% kill rate of germs that works effectively against H1N1 and other common viruses.
Today’s SmallCapVoice.com Hot Stocks to Watch:
Gen2Media (OTCBB: GTWO)
Gen2Media has created a segment of the on-stage graphics for tonight’s Black Eyed Peas performance at the Grammy nominations concert.
The Orlando-based company designed several screens used as the backdrop for the Black Eyed Peas performance.
The nominations concert airs Dec. 2 on CBS. Besides the Black Eyed Peas, announced performances include six-time Grammy-nominated Maxwell, Grammy-nominated Nick Jonas, and Grammy winner Sugarland.
Gen2Media (OTCBB: GTWO) is a technology and production company whose customers include media companies, corporations, entertainment groups, advertising agencies and musicial artists.
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