01:58 PM EST, 11/05/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday as traders parsed the latest economic data, including a report showing a rebound in private-sector hiring last month.

The Nasdaq Composite was up 1.1% at 23,600.3 after midday Wednesday, while the S&P 500 rose 0.8% to 6,824.1. The Dow Jones Industrial Average advanced 0.6% to 47,369.3. All sectors were higher, led by communication services' 1.7% jump.

In economic news, employment in the US private sector increased more than expected in October following two consecutive months of weak hiring, data from Automatic Data Processing ( ADP ) showed.

Private jobs rose by 42,000 last month, ADP reported. The consensus was for a 30,000 increase in a Bloomberg-compiled survey.

"The ADP employment data continue to point to a gradual slowing in the labor market," Oxford Economics said. "We believe the (Federal Reserve has) provided enough support to the labor market with their two back-to-back rate cuts to remain on hold at the next two meetings."

The US services sector returned to expansion in October, the Institute for Supply Management said, while a survey by S&P Global ( SPGI ) indicated faster growth sequentially amid demand strength.

The ISM report pointed to an increase in price pressures and "a softer labor market," which will likely pave the way for further monetary policy easing by the Fed next month, BMO Capital Markets said.

Last week, the Fed lowered its benchmark lending rate by 25 basis points and reiterated concerns regarding the labor market.

US Treasury yields were higher intraday Wednesday, with the 10-year rate up 6.4 basis points at 4.16% and the two-year rate gaining 4.1 basis points to 3.63%.

A US federal government shutdown is now into its 36th day, the longest in the country's history, CBS News reported. The Senate wasn't scheduled to vote Wednesday on a House-passed measure to reopen the government, according to the report.

Supreme Court justices appeared skeptical regarding the legality of sweeping tariffs imposed by US President Donald Trump against trading partners, CNBC reported Wednesday.

The court was hearing arguments on whether Trump exceeded his authority under the International Emergency Economic Powers Act to impose reciprocal levies.

West Texas Intermediate crude oil was down 1.4% at $59.74 a barrel intraday.

In company news, Johnson Controls International ( JCI ) shares surged 9.6%, among the top gainers on the S&P 500, after the company issued an upbeat full-year earnings outlook following a fiscal fourth-quarter beat.

Advanced Micro Devices ( AMD ) shares rose 3.7%. The chipmaker late Tuesday posted third-quarter results that rose above Wall Street's estimates as the company continued to benefit from strong demand for its processors and artificial intelligence chips.

Zimmer Biomet ( ZBH ) shares sank nearly 14%, the worst performer on the S&P 500 intraday Wednesday, following a third-quarter revenue miss.

Qualcomm ( QCOM ) , DoorDash ( DASH ) and Lyft ( LYFT ) are among the companies scheduled to report after the closing bell Wednesday.

Gold was up 0.8% at $3,992.40 per troy ounce, while silver rose 1.5% to $47.99 per ounce.