- The major Wall Street indices opened in negative territory.
- ADP’s job change was less than expected in July.
- Energy stocks continue to slide amid falling crude oil prices.
The main US stock indices opened in negative territory on Wednesday after disappointing U.S. labor market data At time of writing, the S&P 500 was down 0.33% to 4,408, the Dow Jones Industrial Average was losing 0.6% to 34,903, and the Nasdaq Composite was down. falling 0.07% to 15,054.
Monthly data released by the Automatic Data Processing Research Institute (ADP) on Wednesday showed private sector employment increased by 330,000 in July, beating the market expectation of 695,000 by a wide margin.
Among the top 11 sectors of the S&P 500, the Energy Index is down 2.5% pressured by a 2.7% drop in US crude oil prices. On the other hand, the defensive real estate index is the only one. Important sector that trades in green after the opening bell.
S&P 500 chart (daily)
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