U.S. Stocks Climb After Stellar ADP Report

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.