The three major indexes on Wall Street opened higher. Investor sentiment appeared to recover after a private employment gauge beat expectations.
As of 10:50 a.m. on the 5th (local time) at the New York Stock Exchange, the Dow Jones Industrial Average was up 21.57 points, or 0.05%, at 47,106.81. The Standard & Poor's (S&P) 500 rose 25.16 points, or 0.37%, to 6,796.71, and the Nasdaq composite gained 158.38 points, or 0.68%, to 23,507.02.
According to the Automatic Data Processing (ADP) National Employment Report, private payrolls in October increased by 42,000 from the previous month, beating the market forecast of 25,000. As a temporary U.S. federal government shutdown created gaps in key economic indicators, ADP's private employment report drew heightened market attention.
The U.S. services purchasing managers index (PMI) was also released. The Institute for Supply Management (ISM) U.S. services PMI for October came in at 52.4, well above the 50.8 forecast, which buoyed investor sentiment. By S&P Global's measure, the final U.S. services PMI for October was 54.8, down from the flash reading of 55.2.
European stocks also advanced. The Euro Stoxx 50 was up 0.27% at 5,675.70 from the previous session and was in transaction. Germany's DAX rose 0.49%, while France's CAC 40 and Britain's FTSE 100 climbed 0.29% and 0.69%, respectively.
International oil prices also showed slight strength. At the same time, West Texas Intermediate (WTI) for December delivery, the front-month contract, was down 0.17% from the previous session at $60.65 a barrel.