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• 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

Novavax Stock Jumps After Europe Approves Contract for Covid Vaccine.

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.