Stocks Opened Lower after ADP Report

U.S. stocks opened lower on Wednesday as a weaker-than-expected report on private sector employment raised concerns that Friday’s impending jobs report could also point to worsening conditions in the labor market. The Dow Jones Industrial Average lately shed 179.97 points, or 1.01%, to 17,596.15. The S&P 500 lost 19.44 points, or 0.94%, to 2,048.45. The Nasdaq Composite was down 54.91 points, or 1.12%, to 4,845.98.

U.S. private employers added 189,000 jobs last month, below economists’ expectations and the lowest since January 2014, a report by a payrolls processor showed on Wednesday.

GoDaddy is ready for its first lap around Wall Street. The website hosting service known for its racy Super Bowl ads and sponsorship of NASCAR star Danica Patrick raised $460 million Tuesday night through an initial public offering.

Sears Holdings Corp (SHLD) plans to raise more than $2.5 billion from shareholders by offering rights to buy shares in a real estate investment trust that will hold some of its stores.

Monsanto Co. said its earnings fell 15% in the February quarter as sales weakened, farmers planted fewer acres and a stronger U.S. dollar pressured results.