: U.S. stocks open higher as Wall Street attempts to extend 3-session winning streak after ADP jobs report

U.S. stock indexes opened higher on Wednesday after private sector employment data shows job creation slowed more than expected in August, the latest indication that the resilient labor market is starting to cool down under pressure from higher interest rates. Wall Street is trying to build on a three-day winning streak with the S&P 500 SPX up 0.1% at the open, while the Dow Jones Industrial Average DJIA rose 65 points, or 0.2%, to 34,908, and the Nasdaq Composite COMP advanced 0.3%. Payroll services firm ADP on Wednesday reported that private-sector jobs rose by 177,000 in August, lower than the 200,000 increase economists had expected, and far below the revised 371,000 job additions in the prior month. Meanwhile, the U.S. economic growth expanded at a somewhat slower 2.1% annual pace in the second quarter, revised figures show on Wednesday. It is a slight downward revision from the preliminary 2.4% estimate, but in retrospect the economy still showed more underlying strength than expected.

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