Stocks Opened Mixed, Tech Shares Leaped after Earnings

U.S. stocks opened mixed on Wednesday, with technology-related shares leading the way, as investors digested a series of corporate earnings results and incrementally more positive news on both the vaccine and stimulus fronts out of Washington. The Dow ones Industrial Average lately fell 25.92 points, or 0.08%, to 30,661.56. The S&P 500 was up 13.08 points, or 0.34%, to 3,839.39. The Nasdaq Composite advanced 90.62 points, or 0.67%, to 13,703.40.

Oil futures rose Wednesday, after data from an industry group showed a drop in crude and gasoline inventories and traders cheered prospects for another round of aid spending by the U.S. government. West Texas Intermediate crude for March delivery rose 46 cents, or 0.8%, to $55.22 a barrel. April Brent crude was up 60 cents, or 1%, to $58.06 a barrel.

U.S. private employers added back far more jobs than expected in January, returning to growth even as the coronavirus pandemic and winter weather exerted pressure on hiring. Private payrolls increased by 174,000 in January, ADP said in its closely watched monthly jobs report on Wednesday.