Stocks Open Modestly Lower As ADP Report Shows Healthy July Job Gains

By Mark DeCambreMarketsMarketWatch Pulse

U.S. stocks kicked off trading on Wednesday modestly lower after a report showed that the private sector added a better-than-expected 179,000 new jobs last month. The report from Automatic Data Processing Inc. indicated that 179,000 jobs were added in the private sector in July. The reading sets the tone for closely watched July nonfarm-payrolls data due Friday. The Dow Jones Industrial Average fell 7 points, or less than 0.1%, to 18,307, putting blue-chips on track to sink for an eighth day in a row. The S&P 500 index dipped 1 point, or less than 0.1%, to 2,155. Meanwhile, the Nasdaq Composite Index declined 7 points, or 0.1%, at 5,130. In corporates, Fitbit Inc. , the maker of fitness-tracking wristbands, was trading lower after its quarterly sales and earnings beat expectations.

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