Wall Street Live: US stock indices edged up on Wednesday as investors shrugged off weaker-than-expected private payrolls data amid concerns over trade tensions between the United States and China.
A report by payroll firm ADP said that private sector employment rose by 37,000 jobs in May, a slowdown from 60,000 in April.
This was the slowest pace since March 2023, the report also said.
At the opening bell, the Dow Jones Industrial Average rose 54.5 points, or 0.13%, to 42,574.13. The S&P 500 rose 8.6 points, or 0.14%, to 5,978.94, while the Nasdaq Composite rose 36.0 points, or 0.19%, to 19,434.94.
After the data, US President Donald Trump lashed out at Federal Reserve chief Jerome Powell on social media, urging him again to cut interest rates.
Now, investors await official payroll data due on Friday.
Last week, Trump had accused China of violating a pact to de-escalate tariffs, a claim that Beijing has denied.
Trump on Wednesday said it was “extremely hard” to reach a deal with Chinese President Xi Jinping, with Beijing hitting back by saying its stance in trade negotiations had been “consistent.”
