LIVE MARKETS-U.S. stocks subdued early, banks still a bright spot

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U.S. STOCKS SUBDUED EARLY, BANKS STILL A BRIGHT SPOT

U.S. stocks are mixed and little changed early on Wednesday as surprisingly weak U.S. private jobs data raised concerns about the labor market, while investors closely monitored trade talks ahead of President Donald Trump's July 9 tariff deadline.

The ADP National Employment Report showed U.S. private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought.

Markets now await the June non-farm payroll report due Thursday morning.

In any event, the U.S. 10-year Treasury yield US10YT=RR is higher and the majority of S&P 500 index .SPX sectors are lower. That said, no one S&P 500 industry group is posting an absolute change of more than 0.7%.

Both the S&P 500 financial sector .SPSY and the S&P 500 banks index .SPXBK pushed to fresh record intraday highs in the initial throes of Wednesday trading, but have backed off since. Nevertheless, the SPXBK is still on pace for a fresh record close.

Here is a snapshot of where markets stood around 09:45 a.m. EDT:

(Terence Gabriel)

EARLIER ON LIVE MARKETS:

SMALL CAPS BIG BREAK: HOW TRUMP'S TAX TWEAK COULD SUPERCHARGE EARNINGS CLICK HERE
S&P 500 INDEX LOOKING GOLDEN AGAIN CLICK HERE

NO MARKET JITTERS ABOUT FRENCH POLITICS (YET) CLICK HERE

TIME TO BUY THE LUXURY DIP? CLICK HERE

UK M&A FLURRY SHOULD CONCERN POLICYMAKERS - PEEL HUNT CLICK HERE

BANKS PROP UP STOXX, RELIEF FOR WIND STOCKS CLICK HERE

EUROPE BEFORE THE BELL: FUTURES RISE, UK DEALMAKING EYED CLICK HERE

MARKETS SIT TIGHT FOR TRADE PROGRESS CLICK HERE