S&P 500 Index opens modestly higher despite disappointing ADP data

• Wall Street's main indexes are trading mixed on Wednesday.
• Private sector employment in US rose less than expected in August.
• Technology shares push higher after the opening bell.

Major equity indexes in the US opened little changed on Wednesday as investors are assessing the latest ADP Employment Change data while waiting for the ISM's Manufacturing PMI report. As of writing, the S&P 500 was up 0.15% on the day at 4,530, the Dow Jones Industrial Average was flat at 35,361 and the Nasdaq Composite was rising 0.47% at 15,331.

The ADP reported that the private sector employment in the US increased by 374,000 in August, missing the market expectation of 613,000. Nevertheless, this report doesn't seem to be having a significant impact on market sentiment.

Among the 11 major S&P 500 sectors, the Technology Index is up 0.7% as the biggest gainer after the opening bell. On the other hand, the Financials Index is down 0.45% pressure by a 1.7% decline seen in the benchmark 10-year US Treasury bond yield.

S&P 500 chart (daily)