LIVE MARKETS-US stocks push pause, but milestones beckon

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US STOCKS PUSH PAUSE, BUT MILESTONES BECKON

U.S. stocks are subdued early Wednesday as investors take a breather after the S&P 500 .SPX and the Dow .DJI hit record highs in the previous session.

This, after the employment report from ADP released at 8:15 a.m. ET on Wednesday showed that private payrolls increased by 41,000 jobs in December, below estimates of an increase of 47,000, according to economists polled by Reuters.

Markets are also keeping an eye on geopolitical developments, including in Venezuela and the use of the country's oil resources, following the capture of Venezuelan President Nicolas Maduro over the weekend.

In terms of data due at 10 a.m. ET, October factory orders are expected at -1.2% vs. a 0.2% prior reading. December ISM Services PMI is expected to be at 52.3 vs. 52.6 last month. The Reuters Poll is calling for November JOLTS to be 7.60 million vs. a 7.67 million prior print.

Meanwhile, the S&P 500 is now only around 0.6% from the 7,000 psychological level, while the Dow Jones Industrial Average is around 1% from 50,000. The Nasdaq Composite .IXIC is down around 1.4% from its October 29 record finish.

Here is a snapshot of where markets stood shortly before 9:45 a.m. ET.

(Terence Gabriel)

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