US stock market moves lower at midday following a modest recovery the day before
The U.S. stock market is mostly lower in midday trading as a survey on hiring did little to ease uncertainty over the health of America’s economy.
The Dow Jones industrial average edged up six points to 15,451 in midday trading on Wednesday. The Standard & Poor’s 500 index was down two points to 1,751. The Nasdaq slipped 16 points to 4,014.
A private survey on Wednesday showed that U.S. businesses added jobs at a steady but modest pace in January, a sign that hiring has rebounded after a disappointing December. Investors are also looking ahead to a key government report on job growth, due out Friday.
Freight transportation company C.H. Robinson Worldwide fell the most among companies on the S&P 500 index. It dropped $5.30, or 9 per cent to $53.34.
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