(Corrects quote in graph 5 to "quantitative easing" and bullet point index levels)
* ADP report shows unexpected cut in private payrolls
* Costco falls after results, but Monsanto up
* Dow up 0.2 pct, S&P up 0.1 pct, Nasdaq down 0.15 pct
* For up-to-the-minute market news see [STXNEWS/US]
(Updates to morning trading)
By Ryan Vlastelica
NEW YORK, Oct 6 (Reuters) - U.S. stocks were little changed on Wednesday as continued hopes for more global economic stimulus efforts offset an unexpectedly poor reading on private-sector hiring in the United States last month.
Stocks rallied to a near five-month high in the previous session on a growing conviction that Federal Reserve and other central banks will do even more to boost struggling economies worldwide, especially after the Bank of Japan unexpectedly cut rates close to zero and said it would pour money into the markets through asset purchases.
The ADP Employer Services report dented enthusiasm, however, as it showed private employers cut 39,000 jobs in September. That was the largest monthly loss since January and a disappointment to analysts who had forecast 24,000 private payroll additions. For details, see [ID:nEAP103400]
"It is definitely a disappointing number and confirms the jobless recovery that we were all fearing," said Nick Kalivas, senior equity index analyst at MF Global in Chicago.
Kalivas added that the data was "one of the reasons why people believe the Fed is willing to essentially expand its quantitative easing program."
The Dow Jones industrial average <.DJI> was up 23.50 points, or 0.21 percent, at 10,968.22. The Standard & Poor's 500 Index <.SPX> was up 1.30 points, or 0.11 percent, at 1,162.05. The Nasdaq Composite Index <.IXIC> was down 3.52 points, or 0.15 percent, at 2,396.31.
Costco Wholesale Corp
Monsanto Co
Yum rose 0.5 percent to $47.05 and Monsanto advanced 3 percent to $49.98. [ID:nN05259362] [ID:nN06251158] (Editing by Padraic Cassidy)