Stocks – Wall Street Rises at Open After ADP Jobs Data; Dow up 170

This post was originally published on this site — U.S. stock markets opened higher on Wednesday after signs that the labor market may have held up better than expected over the last two months.

Payrolls processor ADP’s monthly update on private-sector job creation fell well short of expectations at 2.369 million, but the number for May was revised sharply upwards to a net gain of 3.065 million, from an initial estimate that 2.76 million jobs had been lost.

By 9:35 AM ET, the Dow Jones Industrial Average had risen 174 points, or 0.7%, to 25,987. The S&P 500 was up 0.4% and the Nasdaq Composite was up 0.1%. Futures for all three had been in negative territory overnight.

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