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Wall Street zigzags as energy gains offset downbeat economic data
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08:56, September 03, 2009

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Wall Street fluctuated Wednesday, as gains in energy shares offset bigger-than-estimated job losses and sluggish growth in factory orders.

The ADP Employer Services reported that U.S. private employers cut 298,000 jobs in August, fewer than a revised 360,000 jobs lost in July but more than 250,000 jobs lost economists had expected.

Meanwhile, the U.S. Commerce Department said orders to U.S. factories rose less than expected in July as reduced demand for petroleum products offset a jump in orders for aircraft and other transportation goods.

On the plus side, ConocoPhillips led energy stocks higher and boosted the market as oil climbed.

The Dow Jones rose 5.29 to 9,315.89. Broader indexes also went slightly higher. The Standard & Poor's 500 index added 0.26 to 997.78 and the Nasdaq rose 2.36 to 1,971.25.

Source:Xinhua



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