US STOCKS-Wall St edges up after Chicago PMI, ECB loans

* Chicago PMI slightly higher than expected

* ADP report: Private employers add 13,000 jobs

* ECB bank lending eases concerns

* Stocks up: Dow 0.03 pct, S&P 0.3 pct, Nasdaq up 0.6 pct

* For up-to-the-minute market news see [STXNEWS/US]
(Adds Chicago PMI data, updates prices)

By Angela Moon

NEW YORK, June 30 (BestGrowthStock) – U.S. stocks (Read more about the stock market today. ) edged up on
Wednesday after a heavy sell-off in the previous session as
concerns eased about the financial condition of European
banks.

A day after the S&P 500 hit an eight-month low, Wall Street
opened slightly lower on a weak private sector jobs report, but
sentiment was helped by data showing Midwest business activity
grew slightly more than expected this month. For details, see
[ID:nN3056471]

“It was a little better, but not by much. At least it was a
breath of hope for the market that should help it rally off its
lows as the market opened,” said Tom Schrader, managing
director at Stifel Nicolaus Capital Markets in Baltimore.

The Dow Jones industrial average (.DJI: ) was up 2.91 points,
or 0.03 percent, at 9,873.21. The Standard & Poor’s 500 Index
(.SPX: ) rose 2.80 points, or 0.27 percent, at 1,044.04. The
Nasdaq Composite Index (.IXIC: ) added 12.09 points, or 0.57
percent, at 2,147.27.

The ADP Employer Services report showed U.S. private
employers added only 13,000 jobs in June, compared with a
revised gain of 57,000 in May. [ID:nWEN6511]

Global equities markets and the euro — all heavily beaten
down this week — rebounded after financially fragile European
banks showed less need to borrow from the European Central Bank
(ECB). The banks face repaying nearly one-half trillion euros
in emergency loans on Thursday. [ID:nLDE65T0VB]

Shares of Ford Motor Co (F.N: ) rallied 6.2 percent to $10.49
after the automaker said it was wiping $4 billion in debt off
its balance sheet. [ID:nN30254623]

The stock gained 5.1 percent to $10.38.

Hurricane Alex disrupted BP Plc’s (BP.L: )(BP.N: ) cleanup of
the massive Gulf of Mexico oil spill and threatening to push
more oily water onshore. Still, U.S.-traded shares of BP rose
3.9 percent to $28.73. [ID:nN30183862]

General Mills Inc (GIS.N: ) fell 4 percent to $35.44 a day
after the company forecast earnings below expectations.
[ID:nN29163341]

Stock Market Trading

(Reporting by Angela Moon; editing by Jeffrey Benkoe)

US STOCKS-Wall St edges up after Chicago PMI, ECB loans