Stocks Opened Up after ADP

U.S. stocks opened higher on Wednesday, as a better-than-expected report on private-sector hiring underscored the
economy’s recent strength. the Dow industrials lately rose 19.14 points, or 0.11%, to 16,975.21. The S&P 500 was up
1.38 point, or 0.07%, to 1,974.70. The Nasdaq gained 5.85 points, or 0.13%, to 4,464.50.

Employment at companies climbed in June by the most since November 2012, a sign the U.S. job market is strengthening
along with demand, a private payrolls report showed today. The 281,000 surge exceeded the most optimistic forecast in
a Bloomberg survey and followed a 179,000 increase in May, data from the ADP Research Institute in Roseland, New
Jersey, showed.

Orders for goods produced in U.S. factories fell 0.5% in May, largely because of fewer Pentagon bookings, the Commerce
Department said Wednesday.

Roche says its U.S.-based biotech company Genentech has agreed to acquire American biotechnology firm Seragon
Pharmaceuticals, Inc. for up to $1.7 billion in cash and contingency payments.

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