The Latest Breaking News from ADP

A new jobs report showed a modest slowdown in hiring last month that was not enough to soothe Wall Street's worries about inflation and the Fed. The unemployment rate edged down to 3.5%

More Americans filed for unemployment benefits last week, but the labor market remains strong even in the face of persistent inflation and a slowing overall U.S. economy

Futures trading indicates that the two-day rally seen in the market may stall, as traders pause for a breather and harp on economic fundamentals. On Tuesday, the major U.S. averages gap-opened sharply higher. Consolidating the gains over the course of the sessions, each of them closed 2.8% or above.

Pre-open movers U.S. stock futures traded lower in early pre-market trade on Wednesday after recording sharp gains in the previous session. The Dow Jones jumped by more than 800 points, while the Nasdaq Composite surged around 360 points on Tuesday. The S&P 500 also notched its biggest two-session surge since…