Stocks open slightly lower after ADP private-sector payrolls data

• Stocks open slightly lower after ADP private-sector payrolls data
• Airline stocks, bank stocks fell. Chinese Stocks rally.
• GM fell over 6% as earnings disappoint.

(Aug 4) U.S. stocks fell on Wednesday morning 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 147 points, or 0.4%. The S&P 500 slipped by 0.3% while the Nasdaq Composite was flat. The dip comes after the S&P 500 broke a 2-day losing streak on Tuesday to post a record close, bringing its 2021 gains to more than 17%. 

Airline stocks, bank stocks fell. Chinese Stocks rally.

Airline stocks fell

Bank stocks are down

Chinese Stocks rally

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GM fell over 6% as earnings disappoint. Shares of General Motors fell about 6% in early trading, weighing on the broader market, after the automakermissed earnings expectations for the second quarter. The automaker did raise its guidance for a key profit metric for the rest of the year.