Investing.com – U.S. stocks were down after the open on Wednesday, after industry data showed that U.S. ADP non-farm payrolls dropped more-than-expected in September.
During early U.S. trade, the Dow Jones Industrial Average was down 0.03%; the S&P 500 index fell 0.11% and the Nasdaq Composite index slipped 0.91%.
Earlier in the day, payroll processing firm ADP said non-farm private employment declined by a seasonally adjusted 39K in September, after rising by a revised 10K in August. Analysts had expected non-farm private sector employment to increase by 18K in September.
In the financial sector, banks were mixed as global investment bank Goldman Sachs climbed 1.34%, rivals JP Morgan Chase saw its shares add 0.48% and Citigroup stocks rose 0.24%.
But shares in M&T Bank plunged 6.27%, after Allied Irish Banks Plc. said it planned to sell its 22.4% stake in the New York-based lender, valued at USD 2.2 billion. U.S. listed shares of the Irish lender tumbled 2.99% on the news.
Elsewhere, technology sector stocks dragged markets lower, as shares in Google Inc. fell 0.89%, Research In Motion Ltd. slipped 1.77% and Apple stocks shed 0.43%.
Meanwhile, Equinix Inc. saw its shares plummet 29.32% after the Internet data center provider said that sales in the third quarter were less than analysts’ expectations.
In deal news, shares in General Electric rose 2.82%, after it agreed to purchase privately-owned Texas-based energy infrastructure company Dresser Industries for USD 3 billion.
Across the Atlantic, European stock markets were up: France’s CAC 40 gained 0.67%; Germany's DAX rose 0.57%; Britain's FTSE 100 added 0.69%; and the EURO STOXX 50 was up 0.58%.
Earlier in the day, official data showed that the euro zone’s economy grew in line with expectations in the second quarter of 2010, while a separate report said German factory orders rose more-than-expected in August.
During early U.S. trade, the Dow Jones Industrial Average was down 0.03%; the S&P 500 index fell 0.11% and the Nasdaq Composite index slipped 0.91%.
Earlier in the day, payroll processing firm ADP said non-farm private employment declined by a seasonally adjusted 39K in September, after rising by a revised 10K in August. Analysts had expected non-farm private sector employment to increase by 18K in September.
In the financial sector, banks were mixed as global investment bank Goldman Sachs climbed 1.34%, rivals JP Morgan Chase saw its shares add 0.48% and Citigroup stocks rose 0.24%.
But shares in M&T Bank plunged 6.27%, after Allied Irish Banks Plc. said it planned to sell its 22.4% stake in the New York-based lender, valued at USD 2.2 billion. U.S. listed shares of the Irish lender tumbled 2.99% on the news.
Elsewhere, technology sector stocks dragged markets lower, as shares in Google Inc. fell 0.89%, Research In Motion Ltd. slipped 1.77% and Apple stocks shed 0.43%.
Meanwhile, Equinix Inc. saw its shares plummet 29.32% after the Internet data center provider said that sales in the third quarter were less than analysts’ expectations.
In deal news, shares in General Electric rose 2.82%, after it agreed to purchase privately-owned Texas-based energy infrastructure company Dresser Industries for USD 3 billion.
Across the Atlantic, European stock markets were up: France’s CAC 40 gained 0.67%; Germany's DAX rose 0.57%; Britain's FTSE 100 added 0.69%; and the EURO STOXX 50 was up 0.58%.
Earlier in the day, official data showed that the euro zone’s economy grew in line with expectations in the second quarter of 2010, while a separate report said German factory orders rose more-than-expected in August.