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Stocks open slightly lower after ADP private-sector payrolls data

U.S. stocks opened slightly lower Wednesday, with the S&P 500 pulling back from the previous session’s record close, after data on private-sector payrolls came in weaker than expected. The Dow Jones Industrial Average declined 173 points, or 0.5%, to 34,943, while the S&P 500 fell 0.3% to 4,409. The Nasdaq Composite was off 0.1% at 14,751. U.S. private-sector employment increased by 330,000 in July, according to ADP. Economists surveyed by The Wall Street Journal had forecast a rise of 653,000. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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