Stocks hold at record after employment report
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Stocks gained a fourth straight day - the S&P 500 closed at a record high for the eighth time this year - after ADP said that companies increased hiring at a rapid pace last month, adding 191,000 jobs. The payroll processor also revised its February number to 153,000, up from 139,000 reported earlier. The government's monthly jobs report is due Friday. Economists forecast that US employers added 200,000 jobs in March, according to the data firm FactSet. That would be the most since November. Also on Wednesday, the Commerce Department reported that orders to US factories rose by 1.6% in February, the most in five months.
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