Stocks open higher after ADP jobs report

U.S. stocks opened higher at the start of Wednesday as investors sifted through a private-sector payrolls report showing significant job gains last month. The S&P 500 rose 0.4% to 4,183. The Dow Jones Industrial Average added 40 points, or 0.1%, to 34,173. The Nasdaq Composite climbed 0.8% to 13,741. Automatic Data Processing reported the U.S. economy added 742,000 jobs in April, ahead of the more widely watched nonfarm employment report at the end of the week. The continued job gains affirmed the U.S. recovery, and could put pressure on the Federal Reserve to start discussions on pulling back from its easy-money policies. Hilton Worldwide Holdings Inc. shares slid after the hotel chain’s earnings fell short of estimates.

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