Stock Market Today: Wall Street Stabilizes as ADP Jobs Data Signals Growth, Tech Sell-Off Eases
US stocks steady after tech sell-off as ADP jobs report shows private-sector growth amid shutdown and tariff uncertainty.
US markets recover as ADP data signals job growth and tech stocks stabilize after sharp losses.
US markets steadied on Wednesday after a volatile session marked by a tech-driven sell-off and renewed concerns over tariffs and the ongoing government shutdown. The Dow Jones Industrial Average rose 0.1%, while the S&P 500 and Nasdaq Composite traded flat after opening lower.
Investor sentiment improved following the ADP payrolls report, which showed private-sector employment grew by 42,000 jobs in October, a sharp rebound from September’s revised drop of 29,000. The data provided some optimism amid the federal shutdown, which continues to delay key government economic reports.
ADP’s chief economist, Nela Richardson, noted that hiring resumed modestly, led by trade, transportation, utilities (+47,000) and education, health services (+26,000) sectors, while information and business services saw declines. Wages rose 4.5% year-over-year, showing stable pay growth.
Meanwhile, investors remained cautious as fears of a stock bubble persisted. A global sell-off in semiconductor shares earlier this week wiped out over $500 billion in value, with AMD tumbling after mixed earnings results. Eyes are now on Qualcomm’s quarterly report, expected later in the day, for more insight into the AI chip market.
Elsewhere, McDonald’s posted a US sales beat but warned of “consumer headwinds,” and Supermicro’s stock fell 7% after missing analyst expectations for both revenue and earnings.
On the political front, the US government shutdown entered its 36th day, officially the longest in history. The economic impact is mounting, with losses estimated at $15 billion a week, while the Supreme Court began hearing arguments on the legality of President Trump’s tariffs, a case that could reshape global trade policy.
