US stocks are little changed after payroll survey

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Associated Press

Posted on March 5, 2014 at 12:00 PM

Updated Wednesday, Mar 5 at 12:04 PM

NEW YORK (AP) — Stocks are little changed in midday trading, a day after surging to a record high, as a report of modest hiring gains at U.S. businesses in January failed to excite investors.

The Standard & Poor's 500 was flat at 1,873 as of noon Eastern time Wednesday. The index closed at an all-time high the day before as tensions eased in Ukraine.

The Dow Jones industrial average fell 33 points, or 0.2 percent, to 16,361. The Nasdaq composite edged up a point to 4,353.

Brown-Forman rose 5 percent after the company reported better sales of its flagship Jack Daniel's brand and other liquors.

Payroll processor ADP said U.S. businesses added 139,000 jobs last month, up slightly from 127,000 in January, however January's figure was revised sharply lower from ADP's earlier estimate.

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