S&P 500 posts its seventh straight gain

US stocks inched a bit further into record territory Wednesday after teeter-tottering through the day. The Standard & Poor’s 500 index rose by just a sliver, but it was enough for a seventh straight gain.

The S&P 500 climbed 0.1 percent, to 2,537.74, after flipping between slight losses and gains through the day. The Dow Jones industrial average rose 0.1 percent, to 22,661.64, and the Nasdaq Composite picked up less than 0.1 percent, to 6,534.63. All three indexes added to records set a day earlier.

A report from payroll processor ADP said that hiring by private employers weakened sharply last month, a setback for a generally strengthening job market. But economists and investors were expecting a low number because of the damage done by hurricanes Harvey and Irma, which hopefully will be temporary.


The government will release its more comprehensive jobs report Friday; economists are also forecasting a weaker number.

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Other reports painted a more encouraging picture. One showed that services companies expanded last month at their fastest rate in more than a decade. The report, from the Institute for Supply Management, followed one on Monday that showed US manufacturing is growing strongly.

‘‘Things continue to be very solid, and the economic numbers continue to be very strong not only here but throughout the world, which is what’s driving this,’’ said Kirk Hartman, global chief investment officer for Wells Fargo Asset Management.

Mylan surged to the biggest gain in the S&P 500, 16.2 percent, after federal regulators approved its generic version of Teva’s Copaxone drug for multiple sclerosis.

Utility stocks were also strong, and such stocks in the S&P 500 jumped 1.1 percent.


On the losing end was Office Depot, which plunged 17.6 percent after it announced a $1 billion purchase of an IT services and products provider, while cutting its forecast for operating profit this year.

Bond insurers were also weak after President Trump suggested the government may ‘‘wipe out’’ Puerto Rico’s debt following its struggle to recover from Hurricane Maria.

MBIA fell 8.4 percent, Ambac Financial Group lost 5.5 percent, and Assured Guaranty dropped 2.9 percent.

In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury edged down to 2.32 percent from 2.33 percent late Tuesday, while the two-year yield dipped to 1.47 percent from 1.48 percent.