Despite better than expected ADP employment report, but slightly lower Wednesday U.S. stocks are still open. Crucial payrolls report will be released Friday.
At 09:34 on January 5 EST, the Dow Jones Industrial Average fell 25.81 points to 11,665.37 points, down 0.22%; the Nasdaq composite index fell 6.84 points to 2,674.41 points, down 0.26%; the S & P 500 Index fell 3.56 points to 1,266.64 points, down 0.28%.
ADP agency reported in December last year, the private sector increased by 29.7 million jobs, the Dow Jones News survey of economists expected an increase of 10 million. Miller Tabak analyst Peter Boockvar Securities, said in an e-mail, "Obviously, the job market is improving, ADP report will bring new impetus to the market."
On Tuesday, major indexes were mixed, the Fed announced in the afternoon monetary policy meeting last month. The Dow rose 20 points, the Nasdaq and S & P 500 index closed slightly lower.
Mike Lenhoff, chief analyst at Brewin Dolphin, said Wednesday weakness in the stock index futures market performance last month, the natural reaction after overheating. Lenhoff said, "Investors confidence in the future, even if the stock market fell on Wednesday, then the decline will be very limited."