Source: cnbc.com Jesse Pound 4-5 minutes U.S. stocks fell on Wednesday after the earnings of a major automaker and a private sector jobs report came in lower than expected. The Dow Jones Industrial Average shed about 323 points, or 0.9%, and closed near its session low. The S&P 500 slipped by 0.5% while the Nasdaq Composite ticked up 0.1%. The dip for the broader market came after the S&P 500 broke a two-day losing streak on Tuesday to post a record close, bringing its 2021 gains to more than 17%. Shares of General Motors fell about nearly 9%, weighing on the broader market, after the automaker missed earnings expectations for the second quarter . The automaker did raise its guidance for a key profit metric for the rest of the year. The ADP private payroll survey showed a gain of 330,000 jobs for July, well short of the consensus estimate of 653,000. The Labor Department's official jobs report, which typical
Europe Markets at Close Report: European Markets Close Higher on Wednesday as Investors Watch Earnings Data
Source: cnbc.com Elliot Smith 3-4 minutes LONDON — European markets closed higher on Wednesday, as investors monitored corporate earnings from big names around the globe, along with economic data and the Covid-19 situation. The pan-European Stoxx 600 closed up 0.6% by mid-afternoon, having earlier notched a fresh record high. Tech stocks climbed 2% to lead gains while oil and gas stocks fell 0.5%. Shares in Asia-Pacific mostly advanced on Wednesday, with the exception of Japan, as a private survey showed Chinese services activity growth accelerating in July. However, the rapid rise in Covid-19 infections throughout the region is keeping optimism contained. Stateside, stock futures pulled back slightly in premarket Wednesday trade after the previous session saw strong earnings power the S&P 500 to a new all-time closing high. Back in Europe, Tuesday's earnings round showed that the global semiconductor shor