US stock mildly positive on strong ADP report

Major US equity indices witnessed a flat opening on Wednesday, with mild positive bias, as opted to cautiously wait on the sidelines ahead of the crucial jobs report on Friday.

During opening hour of trade, the Dow Jones Industrial Average was higher by 12-points to 20,935, while the broader S&P 500 Index added around 4-points to 2,372. Meanwhile, tech-heavy Nasdaq Composite gained over 20-points and rose to 5,855.

Wednesday's subdued price action also seems to suggest that investors might now be turning skeptic over implementations of the US President Donald Trump's pro-growth economic policies, in absence of any additional relevant details.

The markets, however, got a minor boost from Wednesday's ADP report that showed private-sector employers added 298K new jobs in February as against consensus estimates pointing to 190K. Stellar ADP report now seems to have raised expectations from Friday's official data and reinforced expectations that the Fed would eventually move towards raising interest rates next week.