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- US stocks climbed Wednesday on fresh indications that the labor market is cooling.
- The ADP report showed private-sector job growth slowed more than expected, with 177,000 new jobs in August.
- That followed Tuesday's job-opening data, which was the lowest mark in more than two years.
US stocks climbed Wednesday, with investors taking in the latest labor market data which pointed to signs of cooling.
Before the markets opened, ADP reported that private-sector employers added 177,000 jobs in August. That's down from the revised total of 371,000 last month, and below Dow Jones survey expectations of 200,000.
A cooling labor market points to easing wage pressures, which takes some pressure off the Federal Reserve and its inflation battle.