Stock Market Today: Comms, Defensive Stocks Rise After Weak Payrolls Report

The Nasdaq hit new highs Wednesday, but the Dow declined, as ADP reported that August payroll growth came in well below forecasts.

concept art of stock movement
(Image credit: Getty Images)

The Nasdaq Composite managed to set new all-time highs on Wednesday, but that belied a much more mixed session for stocks as investors digested a few fresh economic reports.

Today's headliner was an extremely weak August employment reading – a precursor to Friday's government-sourced jobs report. ADP data showed private payrolls rose 374,000 last month – well short of estimates for 600,000.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for, and the Managing Editor for before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.