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On Wednesday, U.S. stocks opened with divergence. The S&P 500 Index and the Dow Jones Industrial Average both hit new all-time highs before the opening, with the overall market remaining at high levels.
Market sentiment shifts are related to the latest employment data. The "small non-farm" December ADP employment figures in the US fell below market expectations, prompting investors to reconsider the US labor market and the Federal Reserve's monetary policy path. Some funds are on the sidelines, leading to divergence in the opening performance of the three major indices.
Specifically, the Dow Jones Industrial Average oscillated higher after opening, rising 50.64 points, or 0.10%, to 49,512.72; the S&P 500 Index slightly increased by 0.25 points to 6,945.07; the Nasdaq Composite Index opened slightly lower, down 0.799 points to 23,546.374, possibly affected by short-term profit-taking pressure in the technology sector.