(Reuters) – The New York Stock Exchange opened on a prudent note on Wednesday after the ADP survey revealed unexpected job destruction in the United States in June, and investors keep an eye on trade and budgetary developments.

In the first exchanges, the Dow Jones index earns 3.31 points, or 0.01% to 44,498.25 points and the Standard & Poor’s 500, wider, fell from 0.04% to 6.195.79 points.

The Nasdaq Composite gives way 0.04%, or 8.40 points, to 20,194.49 points.

The US private sector destroyed 33,000 jobs in June and job creations during the previous month were revised downwards, shows the monthly investigation of the ADP firm published on Wednesday shortly before the opening of the Stock Exchange.

These figures, which raise fears of a degradation of the labor market in the first world power, increased betting to 27.4% on a reduction in interest rates by the American federal reserve (Fed) in July, against approximately 20% before the report publication, according to LSEG data.

The ADP survey precedes the publication of the official report on the employment of the Labor Department, which will be published Thursday while this Friday is a holiday in the United States.

“On the one hand, wages remain high, which is extremely important for the American economy. On the other hand, if it is not a seasonal phenomenon, it is the beginning of a long -term trend for jobs of white collars that will affect the entire labor market,” said Ross Mayfield, investment strategist at Baird.

“It would be very detrimental to the economy as a whole and would clearly react the Fed, despite its fears that customs duties do not cause inflation,” he said.

Trade negotiations also continue to occupy the markets as the deadline of July 9 set by the American president approaches to avoid the introduction of severe customs duties on the main trade partners of the United States.

Investors also monitor the US budget bill which could increase the debt of 3.300 billion dollars, which is now in the hands of the House of Representatives for final approval before Friday, July 4, the date of the American National Day.

At the values, Tesla advances 3% after having decreased 5.4% the day before with a renewed tensions between its director general Elon Musk and President Donald Trump. The manufacturer also reported a larger drop on Wednesday than expected of its deliveries in the second quarter.

Centene decreases by 35% after the withdrawal of its financial forecasts for this year, while new data has shown a significant drop in the expected income from its health insurance projects. Its competitors Elevance Health and United are also in red.

(Written by Diana Mandiá, edited by Blandine Hénault)

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