US stocks show mixed performance after labor market data

US stocks showed a mixed performance at the start of Wednesday’s trading, after data indicated resilience in the labor market, amid continued investor concerns over the high valuations of technology companies.

The Dow Jones Industrial Average rose by 0.1% (52 points) to 47,119 points as of 5:36 p.m. Makkah time. The S&P 500 was flat at 6,766 pts, while the Nasdaq Composite Index fell 0.2% to 23,300 pts.

Shares of Super Micro Computer declined 3.75% to $45.35, and Palantir stock dropped 3.6% to $184.43, as investors weighed in the companies’ earnings results.

Data released by ADP today showed that the US private sector added 42,000 jobs in October, surpassing expectations of 22,000 jobs, compared to a loss of 29,000 jobs in September.