NEW YORK — U.S. stocks are ticking higher ahead of the latest data that could show how much the economy is slowing. The S&P 500 was up 0.4% in early trading Wednesday. The Dow Jones Industrial Average edged up 42 points, and the Nasdaq composite was up 0.7%. A report due out later in the morning will show how construction, finance and other businesses in the U.S. services sector are faring.
Hewlett Packard Enterprise — the information technology company, not the PC and printer maker — rose 13.9% before the bell after it beat Wall Street's forecast and raised its full-year profit guidance. Cybersecurity company Crowdstrike also beat analysts' sales and profit targets and its shares rose 8.8%.
Payroll company ADP said Wednesday private employers added 152,000 jobs in May, lower than expected, reflecting a “steep decline” in manufacturing jobs. The report can act as a preview for the government's more comprehensive May jobs report due Friday. The labor market has held up better than most expected amid elevated interest rates, though there are signs it may be softening. On Tuesday, the government reported the fewest number of job openings — 8.1 million — since 2021.
In Europe at midday, France's CAC 40 rose 0.8%, while Germany's DAX surged 0.9%. Britain's FTSE 100 edged up 0.3%.
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