Stocks slip in early trade after weak job growth

NEW YORK (AP) — Stocks are opening lower on Wall Street after a payroll company reported sluggish job growth last month.

ADP said U.S. businesses added just 135,000 jobs in May, the second straight month of weak gains.

That’s less than economists were expecting and far below the average of 200,000 monthly job additions the company reported from November through February.

The Labor Department releases its broader employment survey on Friday.

The Dow Jones industrial average was down 48 points to 15,128 shortly after the opening bell Wednesday, a decline of 0.3 percent. Microsoft fell the most in the Dow, 1.4 percent.

The Standard & Poor’s 500 index was down six points at 1,625, or 0.4 percent. The Nasdaq composite fell three points to 3,4342 or 0.1 percent.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus