Stocks Opened Lower after Jobs Data

U.S. stocks opened lower on Wednesday following a report on the private labor market that was weaker than expected. The Dow Jones industrial average lately was down 31.46 points, or 0.20 percent, at 15,413.78. The Standard & Poor’s 500 Index was down 7.98 points, or 0.45 percent, at 1,747.22. The Nasdaq Composite Index was down 38.34 points, or 0.95 percent, at 3,993.18.

U.S. private employers added 175,000 jobs in January, the smallest gain since August as wintry weather kept a lid on hiring, a report by a payrolls processor showed on Wednesday.

The volume of data crossing U.S. mobile networks will grow almost eight-fold by 2018, and demand for Internet-connected devices will also skyrocket, according to a report released on Wednesday that poses questions about U.S. spectrum policy.

CVS Caremark is kicking the habit of selling tobacco products at its more than 7,600 drugstores nationwide as it focuses more on providing health care. The nation’s second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost about $2 billion in annual revenue but won’t affect its 2014 earnings forecast