U.S. stocks rose at the start of trade Wednesday as investors focused on signs of a rebounding global economy and a report from payroll firm ADP, which showed far fewer private-sector job losses in May than economists were expecting.
The Dow Jones Industrial Average rose 222 points, or 0.9%, to 25,965, the S&P 500 index gained 21 points, or 0.7% to about 3,102 and the Nasdaq Composite index advanced 26 points, or 0.3% to trade at 9,640.
ADP said the private sector shed 2.76 million jobs in May, below economists expectations of 8.66 million losses, according to Econoday, compared to 19.56 million job losses in April.
U.S. stocks were also following the lead of global indices, which rose earlier Wednesday after a private gauge of China's services sector showed it hitting a near 10-year high as it returned to expansion last month. Investors also continued to shrug off a wave of protests across American cities against police violence toward people of color, which have led to clashes with police and incidents of looting.
Source : Market Watch