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Stocks open slightly lower after ADP private-sector payrolls data

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U.S. stocks opened slightly lower Wednesday, with the S&P 500 pulling back from the previous session's record close, after data on private-sector payrolls came in weaker than expected.

U.S. stocks opened slightly lower Wednesday, with the S&P 500 pulling back from the previous session's record close, after data on private-sector payrolls came in weaker than expected. The Dow Jones Industrial Average DJIA, -0.53% declined 173 points, or 0.

5%, to 34,943, while the S&P 500 SPX, -0.30% fell 0.3% to 4,409. The Nasdaq Composite COMP, -0.04% was off 0.1% at 14,751. U.S. private-sector employment increased by 330,000 in July, according to ADP. Economists surveyed by The Wall Street Journal had forecast a rise of 653,000.

 

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Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimatePrivate companies added 330,000 jobs in July, according to payroll processing firm ADP, far short of the 653,000 estimate. Damn. But I thought people can't work because of covid which is why they can't pay their rent? Don't prolong the 'WORLDWIDE' pandemic: 1) Wear a double-mask for the foreseeable future or until we're all safely out of the woods. 2) Get vaccinated; it's better to be safe than sorry. 3) And, it's far from being over! But, when it's finally over you'll know. 4) Stay safe.
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