Thursday, May 3, 2012

Looking for direction

Stocks ended mixed Wednesday as investors digested a weak private-sector jobs report and mostly upbeat corporate results. The NASDAQ edged 0.3%. The tech-heavy index was supported by Flextronics.   Payroll processor ADP reported tepid private-sector job growth in April, raising concerns about the government's monthly jobs report due Friday. The earnings boost is mostly behind us. More negative headlines will dominate the market in the next few weeks. Eurozone unemployment hits record 10.9%. Readings were a bit better in Asia, as a closely watched measure of manufacturing activity in China  improved slightly.