NEW YORK, Oct. 2 (Xinhua) -- U.S. stocks ended near flat on Wednesday, with gains in technology stocks offset by investor concerns over rising tensions in the Middle East and upcoming U.S. labor data.
The Dow Jones Industrial Average rose 39.55 points, or 0.09 percent, to 42,196.52. The S&P 500 added 0.79 points, or 0.01 percent, to 5,709.54. The Nasdaq Composite Index increased 14.76 points, or 0.08 percent, to 17,925.12.
Seven of the 11 primary S&P 500 sectors ended in red, with consumer discretionary and consumer staples leading the laggards by dropping 0.78 percent respectively. Meanwhile, energy and technology led the gainers by going up 1.12 percent and 0.59 percent, respectively.
As Israel launched a ground operation in Lebanon, escalating conflicts with Iran-backed Hezbollah, markets prepared for heightened volatility amid the geopolitical unrest.
"We're really seeing the market have a little bit of a hiccup with this recent spike in geopolitical tensions," said Lisa Erickson, head of public markets due diligence at U.S. Bank Wealth Management.
"While investors typically don't worry too much about those events until there's a clear economic impact, we're just seeing some nervousness," said Erickson.
On the economic front, U.S. private sector hiring accelerated in September, showing the labor market's resilience despite some signs of softening, according to a report from payroll firm ADP on Wednesday. Companies added 143,000 jobs, up from the revised 103,000 in August and surpassing the 128,000 forecast by economists surveyed by Dow Jones.
However, wage growth slowed again. The 12-month increase for employees remaining in their jobs edged down to 4.7 percent, while wages for job switchers dropped to 6.6 percent, a 0.7 percentage point decline from August.
This precedes Friday's highly anticipated nonfarm payroll report, which is expected to significantly influence the market's trajectory and the Federal Reserve's upcoming rate decisions as it initiates its rate-cutting cycle.
