Last updated March 3, 2010: 1:00 PM ET --- The major U.S. equity indices are trading higher Wednesday following data on the labor market and the U.S. services sector which helped to boost investors confidence about the pace of economic recovery. The ADP reported that U.S. private employers shed 20,000 jobs in February, inline with estimates and fewer than the 60,000 jobs lost in January. The Institute for Supply Management's services gauge rose to 52 in February, up from 50.5 in January, at its fastest pace in more than two years in February. In corporate news, Pfizer (NYSE:PFE) is expected to present a nearly $4 billion offer for Ratiopharm GmbH this week, competing against rival bids from Teva Pharmaceutical Industries (NASDAQ:TEVA). Costco Wholesale (NASDAQ:COST) and BJ's Wholesale Club (NYSE:BJ) fell after the company's reported quarterly earnings that missed expectations. Costco fell 0.5% to $61.06 and BJ's fell 4.9% to $34.69. The Dow Jones Industrial Average (DJI) is trading 0.34% higher at 10,441.05, the S&P500 (INX) is trading 0.37% higher at 1,122.43, and the Nasdaq Composite (IXIC) is trading 0.24% higher at 2,286.14.