U.S. Stocks Climb After Stellar ADP Report

By Joseph Adinolfi Markets MarketWatch Pulse

U.S. stocks opened higher on Wednesday as investors shrugged off reports of another North Korean missile launch, focusing instead on a blockbuster reading on private-sector employment. The S&P 500 climbed 7 points, or 0.3%, to 2,368, while the Dow Jones Industrial Average advanced 91 points, or 0.5%, to 20,782. The Nasdaq Composite Index gained 14 points, or 0.2%, to 5,911. Shares of Panera Bread Co. soared after the fast-casual restaurant chain reached a deal to be acquired by a private holding company for $7.5 billion. Monsanto Co. shares rose after the company's latest quarterly results beat profit and sales expectations. U.S. employers added 263,000 private-sector jobs last month, according to payrolls processor ADP Inc., surpassing expectations for an increase of 170,000.

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