Investing.com — .U.S. stocks opened higher on Wednesday after payrolls processor ADP registered a jump in private-sector hiring March, reassuring participants that the U.S. economy is starting to put its Covid-19 nightmare behind it.
ADP said 517,000 private-sector jobs were created in the month through mid-March, less than the 550,000 expected but still almost three times February’s number and a clear sign of life in a service sector that accounts for most of the current 10 million-job shortfall in the economy, measured against pre-pandemic levels.
By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was up 87 points, or 0.3%, at 33,154 points. The S&P 500 was up 0.4% and the Nasdaq Composite was up 1.0%.
