US Stocks Mixed In Early Trading After ADP Data

U.S. stocks were mixed on Wednesday after data showed that the pace of job losses in the private sector is slowing but still brisk.

Shortly after the opening bell, the Dow Jones Industrial Average was lower by about 23 points. The Standard & Poor's 500-stock index and the Nasdaq Composite Index were little changed.

A report from Automatic Data Processing and Macroeconomic Advisors said that the private sector shed 371,000 jobs last month, more than the 350,000 jobs economists expected to see shed but less than the number of jobs eliminated in previous months. The government will issue its reading on July employment on Friday.

Treasury prices were lower but off their lowest levels of the morning after the ADP report. The benchmark 10-year note was off 14/32 to yield 3.74%, while the 30-year bond slid 1 2/32 to yield 4.53%. The dollar rose against the yen and the euro. (more)