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8/4, 3:30 PM (Source: TeleTrader)
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Wall Street opens mostly lower after July jobs data

Trading on Wall Street kicked off mostly on a lower note on Wednesday as investors reacted to the latest private sector jobs report, which missed analyst expectations, and more corporate earnings.

According to the ADP National Employment Report for July, the US private sector added 330,000 new jobs last month. On Friday, the highly-anticipated nonfarm payrolls report was scheduled for a release with traders keeping a close eye on the labor market and its recovery from the pandemic.

The Dow Jones was down 0.51% at the start of trading in New York. Amgen was the worst performer on the Dow, sliding over 3% following the release of the company's second-quarter earnings. The S&P 500 fell 0.31% as insurance company Unum plunged 7%. Meanwhile, the Nasdaq 100 started the session flat.

Breaking the News / JC