U.S. Stocks Flat After Freeport-McMoRan Drops 15 Percent Following Acquisition Announcement
- 11 years ago
Stocks opened little changed on Wednesday as a 15-percent drop in shares of Freeport-McMoRan (FCX.N) following acquisition announcements offset optimism about a global economic recovery spurred by comments from China's new leader.
The ADP National Employment Report showed that private sector hiring took a hit in November because the impact of Hurricane Sandy hurt business activity in the north east.
A separate report on the U.S. services sector showed a similar dip in hiring during the month of November, but economic indicators pointed to faster growth as a rise in new orders and business activity helped offset a fall in employment and prices.
The Dow Jones industrial average .DJI added 16.20 points, or 0.13 percent, to 12,967.98. The S&P 500 .SPX edged up 0.50 points, or 0.04 percent, to 1,407.55. The Nasdaq Composite .IXIC dipped 3.95 points, or 0.13 percent, to 2,992.73.
The ADP National Employment Report showed that private sector hiring took a hit in November because the impact of Hurricane Sandy hurt business activity in the north east.
A separate report on the U.S. services sector showed a similar dip in hiring during the month of November, but economic indicators pointed to faster growth as a rise in new orders and business activity helped offset a fall in employment and prices.
The Dow Jones industrial average .DJI added 16.20 points, or 0.13 percent, to 12,967.98. The S&P 500 .SPX edged up 0.50 points, or 0.04 percent, to 1,407.55. The Nasdaq Composite .IXIC dipped 3.95 points, or 0.13 percent, to 2,992.73.