Stocks Opened with Solid Gains

U.S. stocks opened with solid gains on Wednesday with the S&P 500 and Nasdaq Composite on track to break a five-day losing streak. The Dow Jones Industrial Average lately jumped 162.12 points, or 0.93%, to 17,533.76. The S&P 500 gained 19.43 points, or 0.97%, to 2,022.04. The Nasdaq Composite added 44.10 points, or 0.96%, to 4,636.84.

Private-sector employment gains accelerated in December as employers added 241,000 jobs, Automatic Data Processing Inc. reported Wednesday. ADP revised November’s gain to 227,000 from a prior estimate of 208,000.

The nation’s trade deficit shrank 7.7% in November to an 11-month low of $39 billion mainly because of cheaper oil prices and the smallest amount of crude imports since 1994.

U.S. oil futures turned higher Wednesday. The February contract for New York-traded West Texas Intermediate crude oil rose 39 cents, or 0.8%, to $48.31 a barrel.