In early trading on Wednesday, the record-breaking rally in U.S. stocks stalled as Wall Street awaited the release of a batch of economic data. The S&P 500 was little changed, just one day after the benchmark index hit a record closing high.The tech-heavy Nasdaq 100 Index fell 0.2%, while the blue-chip Dow Jones Industrial Average rose 0.3%, as some investors continued to pull back from the tech stocks that have driven the market higher in recent months. Sameer Samana, head of global equities and real assets at Wells Fargo Investment Institute, said: ““We’ve returned to the recent highs where the market stalled last time, and it seems more clarity is needed before breaking through these levels. Additionally, the Federal Reserve needs to provide a clearer indication of its future path.”” ADP Research Institute data released Wednesday showed that as 2026 began, U.S. companies saw modest growth in hiring activity in December, with private-sector employment increasing by 41,000—below the expectations of economists surveyed. Investors are awaiting Friday’s nonfarm payrolls report to gauge the resilience of the labor market.