Investing.com - U.S. stocks opened slightly lower on Wednesday, after the release of disappointing U.S. private sector employment data and as investors still eyed an upcoming report on U.S. service sector activity.
During early U.S. trade, the Dow Jones Industrial Average edged down 0.12%, the S&P 500 eased 0.08%, while the Nasdaq Composite index dipped 0.01%.
Earlier in the day, data showed that the U.S. private sector added 139,000 jobs in February, below expectations for an increase of 160,000.
Market sentiment improved on Tuesday, as the threat of war between Russia and Ukraine eased after Russian President Vladimir Putin said a military deployment in Ukraine is not needed now. Russia’s defense minister also ordered troops engaged in military exercises close to Ukraine’s borders to return to their bases.
But investors still remained cautious with Russian forces still maintaining a military presence in Ukraine’s Crimea region.
The auto sector was in focus as General Motors, which sells more vehicles in China than anywhere else, said deliveries in the country increased 20% last month, led by sales of its Wuling microvans. The news sent shares up 1.33% at the open of the U.S. trading session.
Adding to gains, Apple added 0.25% amid reports Chief Financial Officer Peter Oppenheimer will retire at the end of September, handing over to Corporate Controller Luca Maestri.
General Electric rose 0.31% after Chief Executive Officer Jeff Immelt purchased $2.6 million of the U.S. conglomerate's shares, according to a filing on Tuesday. Shares slipped 0.08% in extended trading.
Elsewhere, Smith & Wesson Holding hiked its profit outlook, sending shares in the gun manufacturer soaring 16.36%.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dipped 0.01%, France’s CAC 40 slipped 0.15%, Germany's DAX fell 0.26%, while Britain's FTSE 100 retreated 0.65%.
During the Asian trading session, Hong Kong's Hang Seng Index slid 0.34%, while Japan’s Nikkei 225 Index jumped 1.20%.
Later in the day, the Institute for Supply Management was to publish a report service sector activity.