Stocks reversed their initial gains to turn negative on Wednesday before a report on the U.S. services sector.

A stronger-than-expected reading on the labor market sparked gains and encouraged investors to halt the market's longest losing streak since October 2008.

The Dow Jones industrial average <.DJI> was down 38.68 points, or 0.33 percent, at 11,827.94. The Standard & Poor's 500 Index <.SPX> was down 3.54 points, or 0.28 percent, at 1,250.51. The Nasdaq Composite Index <.IXIC> was down 4.36 points, or 0.16 percent, at 2,664.88.

(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)