Dow Streak Ends at Four

The S&P 500 rose slightly on Wednesday, but gains were kept in check after private sector hiring hit its lowest level in more than two years, raising concerns trade policy uncertainty could be weighing on the U.S. economy.The Dow Jones Industrials plunged 91.9 points to 42,427.74.The S&P 500 index cleared breakeven but 0.44 points to 5,970.81The NASDAQ Composite acquired 61.53 points to 19,460.49.Wall Street is coming off a solid stretch with strong gains in tech stocks allowing investors to look past any worries about tariffs or the economy. A report from payrolls processing firm ADP showed that payrolls increased only 37,000 for the month, less than the downwardly revised 60,000 in April and below the consensus forecast of 110,000 that economists polled by Dow Jones were expecting.The report casts a pall over Friday’s all-important government nonfarm payrolls report, which economists currently expect to show an increase of 125,000 jobs for May, according to a Dow Jones survey.President Donald Trump blasted Federal Reserve Chairman Jerome Powell right after the ADP numbers came out, saying “Too Late Powell” should cut rates.A federal court striking down Trump’s tariffs just last week added to hopes the market has priced in the worst of the tariffs, though they were later reinstated temporarily by an appeals court.Trump posted earlier that dealing with Chinese President Xi Jinping has been “extremely hard.”Prices for the 10-year Treasury gained ground, lowering yields to 4.36% from Tuesday’s 4.45%. Treasury prices and yields move in opposite directions. Oil prices skidded 60 cents to $62.81 U.S. a barrel. Gold prices regained $20.00 to $3,397.10 U.S. an ounce.