U.S. stocks score fourth straight day of gains ahead of inflation report

U.S. stocks closed higher Wednesday, booking gains for a fourth straight day as investors weighed signs of cooling in the labor market and revised data on economic growth in the second quarter. The Dow Jones Industrial Average DJIA, +0.11% ended 0.1% higher, while the S&P 500 SPX, +0.38% gained 0.4% and the Nasdaq Composite COMP, +0.54% rose 0.5%, according to preliminary data from FactSet.

A U.S. employment report Wednesday from payroll processor ADP showed fewer private-sector jobs were added in August than economists forecast. Investors also digested revised data from the Bureau of Economic Analysis, which showed the U.S. economy grew at a 2.1% annual pace in the second quarter, down from an earlier estimated 2.4%. A reading from the Federal Reserve’s preferred inflation gauge will be released before the market’s open on Thursday.

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