* Investors eye FOMC statement on rates and economy
* Healthcare sector jumps after election results
* U.S. private sector sheds jobs at slowest pace in yr
* Dow up 0.3 pct, S&P up 0.1 pct,
* For up-to-the-minute market news, click [STXNEWS/US] (Updates to close)
NEW YORK, Nov 4 (Reuters) - U.S. stocks mostly eked out a gain on Wednesday, giving back a big slice of the day's advance after the
Stocks pushed higher in the hour following the FOMC statement, after the Fed kept its benchmark federal funds rate unchanged in a range of zero to 0.25 percent. For details, see [ID:nN04453484] The Dow climbed as high as 9,928.04, while
But the market was unable to hold those gains as it succumbed to selling pressure in the last half-hour of trading and the
"This doesn't change much. It's hard to figure out how this could be helpful for the upside, though it easily could have been negative," said Jordan Posner, portfolio manager at Matrix Asset Advisors in New York.
"The good news is more an absence of anything bad."
The Fed's closely watched policy statement was somewhat more upbeat than its statement in
The healthcare sector jumped on hopes the Obama administration's healthcare reforms may be slowed after Republicans scored some key election victories.
The Morgan Stanley Healthcare Payor index jumped 4.7 percent, while
The Dow Jones industrial average gained 30.23 points, or 0.31 percent, to end at 9,802.14. The Standard & Poor's 500 Index edged up 1.09 points, or 0.10 percent, to 1,046.50. But the
Healthcare stocks also got a lift from Wellcare Health Plans Inc , which climbed 6.7 percent to $28.09 after the managed care company posted a quarterly profit above analysts' estimates even as membership fell about 8 percent from a year earlier. [ID:nBNG291662]
Intel Corp (
Wall Street opened higher after a private-sector report from ADP (Paris: FR0010340141 - news) showed signs of improvement in the labor market. The three major U.S. stock indexes extended gains following a strong reading on the U.S. services sector from the Institute for Supply Management. [ID:nN04349022] (Reporting by Chuck Mikolajczak; Additional reporting by Ryan Vlastelica; Editing by Jan Paschal)
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