US stocks fell moderately, which was due to statements the head of the US Federal Reserve Janet Yellen that the valuation of shares is "generally quite high," and warnings about possible dangers. However, Yellen has described the risks of financial stability as a "moderate, not elevated," and said he did not see any signs of the formation of financial bubbles.

In addition, as shown by the data submitted by Automatic Data Processing (ADP), private sector employment has grown weaker in April than in March, while the growth was less than the expectations of experts. According to a report last month, the number of employees increased by 169 thousand. People from a revised downward indicator for March at 175 thousand. (Originally reported growth of 189 thousand.). We add, according to the average forecast value of this indicator was to reach 200 thousand.

However, labor productivity in the United States fell in the early months of 2015, becoming the latest sign of sluggish economic growth in the beginning of the year. The level of labor productivity in the non-agricultural sector of the economy, which is measured as the production of goods and services in the hour worked decreased by 1.9% to a seasonally adjusted in the first quarter, the Labor Department said Wednesday. Compared with a year earlier, the performance was up 0.6%.

It is also worth noting Message Energy Information Administration US Department of Energy. According to the Office, in the week April 25 - May 1 volume of commercial oil inventories in the US fell by 3.9 million barrels to 487 million barrels per day. Analysts had expected growth of reserves by 1.1 million barrels per day.

Almost all components of the index DOW finished trading in negative territory (27 of 30). Outsider shares were Microsoft Corporation (MSFT, -3.12%). Most stocks rose The Procter & Gamble Company (PG, + 0.20%).

All sectors of the index S & P closed below zero. Outsiders were utilities sector (-0.9%) and basic materials sector (-0.9%).

At the close:

Dow -0.48% 17,842.18 -86.02

Nasdaq -0.40% 4,919.64 -19.69

S & P -0.44% 2,080.19 -9.27

Major U.S. stock-indexes lower on Wednesday after U.S. Federal Reserve Chair Janet Yellen said equity valuations are "generally quite high", and warned of potential dangers. In the same time, she described risks to financial stability as "moderated, not elevated" and said she does not see any bubbles forming.

Most of the Dow stocks are trading in negative area (19 of 30). Top looser International Business Machines Corporation (IBM, -1.89%). Top gainer - The Home Depot, Inc. (HD, +0.41%).

All S&P index sectors in negative area. Top looser - Utilities (-0.7%).

At the moment:

Dow 17780.00 -84.00 -0.47%

S&P 500 2075.50 -8.50 -0.41%

Nasdaq 100 4375.75 -31.75 -0.72%

10-year yield 2.22% +0.04

Oil 61.21 +0.81 +1.34%

Gold 1189.50 -3.70 -0.31%

Stock indices closed slightly higher on corporate earnings and on the mixed economic data from Eurozone. Retail sales in the Eurozone fell 0.8% in March, missing expectations for a 0.7% decrease, after a 0.1% gain in February. February's figure was revised up from a 0.2% drop.

It was the first negative monthly reading since September 2014.

The decline was driven by lower gasoline sales, which dropped 2.8% in March.

Greece repaid a 200-million-euro loan from the International Monetary Fund on Wednesday.

Eurozone's final services purchasing managers' index (PMI) fell to 54.1 in April from 54.2 in March, up from a preliminary reading of 53.7.

Spain was the top performers in April.

Germany's final services PMI decreased to 54.0 in April from 55.4 in March, down from a preliminary reading of 54.4.

France's final services PMI dropped to 51.4 in April from 52.4 in March, up a preliminary reading of 50.8.

Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. increased to 59.5 in April from 58.9 in March, beating expectations for a fall to 58.5. It was the highest level since August 2014.

The rise was driven by an increase in new business, stronger economic confidence and warm weather.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,933.74 +6.16 +0.09 %

DAX 11,350.15 +22.47 +0.20 %

CAC 40 4,981.59 +7.52 +0.15 %

The Federal Reserve Chair Janet Yellen said on Wednesday that valuations in the stock market are high and there is a potential risk there. She noted that the central bank needs to monitor closely the non-bank lending sector.

Yellen also said that she does not see any bubbles in financial markets.

Canada's seasonally adjusted Ivey purchasing managers' index rose to 58.2 in April from 47.9 in March. Analysts had expected the index to increase to 49.2.

A reading above 50 indicates a rise in the pace of activity, below 50 indicates a contraction in the pace of activity.

The supplier deliveries index was 46.2 in April, while employment index was 50.3.

Inventories index was 53.2.

The Ifo research institute released its economic climate data for the Eurozone on Wednesday. The Ifo Index for the economic climate climbed to 129.2 points in the second quarter of 2015 from 112.7 points the previous quarter.

It was the highest level since 2007.

Eurozone's economy was improving. The main contributor was Germany. But here were also improvements in France, Italy and Spain.

An average inflation rate in the Eurozone is expected to be 0.6% in 2015.

"The experts surveyed expressed growing optimism about the six-month economic outlook in most countries. Positive expectations only clouded over slightly in Finland, Italy and Spain. Scepticism on the part of experts in Greece reached levels last seen three years ago,", the president of the Ifo Institute Hans-Werner Sinn said.

The head of the Eurogroup Jeroen Dijsselbloem said in Paris on Wednesday that there will be no agreement between Greece and its creditors on Monday. He noted that some progress has been made but many issues have to be solved.

Dijsselbloem pointed out that the outlook to sign an agreement is more positive now than some weeks ago.

The Hellenic Statistical Authority released its unemployment data on Wednesday. The seasonally adjusted unemployment rate in Greece declined to 25.4% in February from 25.6% in January.

It was the lowest level since July 2012.

The number of unemployed fell by 97,512 from last year, while employment climbed by 55,454 in February.

The youth unemployment rate was 50.1% in February.

U.S. index futures maintained gains as companies added fewer employees in April than economists forecast.

Global markets:

Hang Seng 27,640.91 -114.63 -0.41%

Shanghai Composite 4,231.33 -67.37 -1.57%

FTSE 6,951.25 +23.67 +0.34%

CAC 4,992.45 +18.38 +0.37%

DAX 11,358.1 +30.42 +0.27%

Crude oil $62.01 (+2.62%)

Gold $1194.30 (+0.08%)

The U.S. Labor Department released non-farm productivity figures on Wednesday. Productivity in the U.S. non-farm businesses fell at a 1.9% annual rate in the first quarter, missing expectations for a 1.8% decrease, after a 2.2% drop in the fourth quarter. The fourth quarter's figure was revised down from a 1.8% fall.

The decline was driven by lower output, which fell 0.2% in April. Hours worked climbed by 1.7%.

Unit labour costs increased 5.0% in the first quarter, exceeding expectations for a 4.3% rise, after a 4.2 gain in the fourth quarter. The fourth quarter's figure was revised up from a 4.1% increase.

These figures indicate that the U.S. economy slowed down in the final months of 2014.

(company / ticker / price / change, % / volume)

Upgrades:

American Express (AXP) upgraded from Mkt Perform to Outperform at Bernstein, target raised from $94 to $95

Downgrades:

Bank of America (BAC) downgraded to Market Perform at BMO Capital

Other:

Walt Disney (DIS) target raised to $125 from $120 at Nomura

Private sector in the U.S. added 169,000 jobs in April, according the ADP report on Wednesday.

March's figure was revised down to 175,000 jobs from a previous reading of 189,000 jobs.

Analysts expected the private sector to add 200,000 jobs.

"Fallout from the collapse of oil prices and the surging value of the dollar are weighing on job creation," the Chief Economist of Moody's Analytics Mark Zandi said.

Official labour market data will be released on Friday. Analysts expect that U.S. unemployment rate is expected to decline to 5.4% in April from 5.5% in March. The U.S. economy is expected to add 224,000 jobs in April, after adding 126,000 jobs in March.

The Chinese HSBC services PMI increased to 52.9 in April from 52.3 in March.

A reading below 50.0 indicates contraction.

The increase was driven by higher new orders and employment in the service sector.

"The latest set of PMI data indicated that Chinese service-sector companies had a strong start to the second quarter, with activity and new orders both rising solidly in April," the HSBC's chief economist for China Qu Hongbin said.

The Australian Bureau of Statistics released its retail sales figures on Wednesday. Retail sales in Australia rose 0.3% in March, missing expectations for a 0.4% gain, after a 0.7% increase in February.

Department stores sales jumped 3.8% in March, clothing, footwear and personal accessory sales increased 2.2%, while food sales were up 0.4%.

Household goods dropped 1.0% in March, while cafes, restaurants and takeaway food services sales plunged 1.1%.

Retail sales increased by 0.7% in the first quarter, after a 1.2% gain in the fourth quarter.

On a yearly basis, retail sales were up to 4.5% in March from 4.3% in February.

Retail sales climbed 0.7% in the state of Queensland. Retail sales declined by 0.8% in the Northern Territory.

Stock indices traded higher ahead UK's parliamentary elections tomorrow. The win of the Conservatives is expected to have a negative impact on the pound as the Conservatives want to carry out a referendum on Britain's membership in the European Union (EU). The Labour Party said that the Britain's exit from the EU will be a catastrophe for the U.K. The Labour Party has promised to reduce the budget deficit.

The United Kingdom Independence Party (UKIP), a Eurosceptic and right-wing populist political party in the U.K., may win seats in the parliament. It will not will contribute to political stability in the U.K.

Retail sales in the Eurozone fell 0.8% in March, missing expectations for a 0.7% decrease, after a 0.1% gain in February. February's figure was revised up from a 0.2% drop.

It was the first negative monthly reading since September 2014.

The decline was driven by lower gasoline sales, which dropped 2.8% in March.

Greece repaid a 200-million-euro loan from the International Monetary Fund on Wednesday.

Eurozone's final services purchasing managers' index (PMI) fell to 54.1 in April from 54.2 in March, up from a preliminary reading of 53.7.

Spain was the top performers in April.

Germany's final services PMI decreased to 54.0 in April from 55.4 in March, down from a preliminary reading of 54.4.

France's final services PMI dropped to 51.4 in April from 52.4 in March, up a preliminary reading of 50.8.

Current figures:

Name Price Change Change %

FTSE 100 6,943.68 +16.10 +0.23 %

DAX 11,399.74 +72.06 +0.64 %

CAC 40 4,994.22 +20.15 +0.41 %

Eurostat released its retail sales data for the Eurozone on Wednesday. Retail sales in the Eurozone fell 0.8% in March, missing expectations for a 0.7% decrease, after a 0.1% gain in February. February's figure was revised up from a 0.2% drop.

It was the first negative monthly reading since September 2014.

The decline was driven by lower gasoline sales, which dropped 2.8% in March.

Non-food sales fell 0.8% in March, while sales of food, drinks and tobacco decreased 0.6%.

On a yearly basis, retail sales in the Eurozone rose 1.6% in March, missing forecast of a 2.4% gain, after a 2.8% increase in February. February's figure was revised down from a 3.0% rise.

Gasoline sales declined 0.7% in March, while non-food products rose 3%.

Markit's and the Chartered Institute of Purchasing & Supply's services purchasing managers' index (PMI) for the U.K. increased to 59.5 in April from 58.9 in March, beating expectations for a fall to 58.5. It was the highest level since August 2014.

The rise was driven by an increase in new business, stronger economic confidence and warm weather.

"Fears of the economy slumping amid election jitters are allayed as an upturn in service sector activity has helped offset sharp slowdowns in both manufacturing and construction," the Chief Economist at Markit Chris Williamson said.

The National Institute of Economic and Social Research (NIESR) lowered its GDP growth forecast for the U.K. The U.K. GDP is expected to grow 2.5% in 2015, down from the previous estimate of 2.9%. The NIESR expects the U.K. economy to expand at 2.4% in 2016.

The NIESR said that the economic growth will be driven by consumer spending this year.

The unemployment rate is expected to decline to around 5.25% at the end of the year.

The productivity growth in the U.K. remains the largest uncertainty to the economy, according to NIESR.

The inflation is expected to decrease slightly this year.

The International Monetary Fund (IMF) said on Tuesday that IMF officials didn't push for large-scale debt haircut in negotiations for emergency financing for Greece in Riga last month.

"IMF European Department Director Poul Thomsen pointed to the trade-off that needs to be made in reaching agreement in the current discussions," the IMF said.

(index / closing price / change items /% change)

Hang Seng 27,755.54 -368.28 -1.31 %

S&P/ASX 200 5,826.5 -1.02 -0.02 %

Shanghai Composite 4,298.37 -182.10 -4.06 %

FTSE 100 6,927.58 -58.37 -0.84 %

CAC 40 4,974.07 -107.90 -2.12 %

Xetra DAX 11,327.68 -292.17 -2.51 %

S&P 500 2,089.46 -25.03 -1.18 %

NASDAQ Composite 4,939.33 -77.60 -1.55 %

Dow Jones 17,928.2 -142.20 -0.79 %