NEW YORK (AP) — Stocks are opening lower on Wall Street after a payroll company reported sluggish job growth last month.
ADP said U.S. businesses added just 135,000 jobs in May, the second straight month of weak gains.
That’s less than economists were expecting and far below the average of 200,000 monthly job additions the company reported from November through February.
The Labor Department releases its broader employment survey on Friday.
The Dow Jones industrial average was down 48 points to 15,128 shortly after the opening bell Wednesday, a decline of 0.3 percent. Microsoft fell the most in the Dow, 1.4 percent.
The Standard & Poor’s 500 index was down six points at 1,625, or 0.4 percent. The Nasdaq composite fell three points to 3,4342 or 0.1 percent.