Stocks Opened Lower After Private Sector Jobs Report

U.S. stocks opened lower on Wednesday after data showing job growth remained sluggish did little to ease concerns the Federal Reserve may slow the pace of its economic stimulus program. The Dow Jones industrial average lately dropped 32.96 points, or 0.22 percent, to 15,144.58. The Standard & Poor’s 500 Index lost 3.43 points, or 0.21 percent, to 1,627.95. The Nasdaq Composite Index fell 4.02 points, or 0.12 percent, to 3,441.24.

Private employers added 135,000 jobs in May, the ADP National Employment Report showed on Wednesday, missing forecasts for a gain of 165,000. April’s private payrolls were revised down to an increase of 113,000 from the previously reported 119,000.

The Treasury Department  said it will begin another round of sales of the General Motors Co (GM.N) stock it acquired during the government’s bailout of the U.S. auto sector. The Treasury said it will sell an additional 30 million shares of GM common stock in a public offering in conjunction with the company’s inclusion to the Standard & Poor’s 500 index on June 6.

Software giant Microsoft has unveiled the updated version of its touch-enabled Windows 8 operating system at the world’s second largest computer show in Taipei.






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