Around the World's Markets: New York

MORE DATA pointing to an overheating labour market left stocks on Wall Street directionless in early trading. The Dow was down 52 points at 10,737, while After initial losses, the Nasdaq rose 4 points to 2,570.

July payrolls and wages rose more than expected. Non-farm payrolls increased 310,000 in July, topping expectations of a 199,400 gain. "The markets look more like the Indianapolis Speedway than a stock market. There's a thrill a minute. The mood changes in milliseconds," said one analyst.