Wall Street opens flat after ADP data

By IBTimes Staff Reporter | January 06 2010 10:08 AM

Stocks open little changed on Wednesday after a private report showed a smaller-than-expected slowdown in job losses in December.

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The Dow Jones industrial average <.DJI> dropped 4.76 points, or 0.05 percent, to 10,567.26. The Standard & Poor's 500 Index <.SPX> shed 0.52 points, or 0.05 percent, to 1,136.00. The Nasdaq Composite Index <.IXIC> gained 3.89 points, or 0.17 percent, to 2,312.60.

The ADP Employer Services report showed U.S. private employers shed 84,000 jobs in December, better than a revised 145,000 in November but more than the 73,000 forecast by economists.

The Institute for Supply Management non-manufacturing index is due at 10:00 a.m. EST (1500 GMT) and is expected to show growth in the services sector in December following a surprise contraction the previous month.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)