Nasdaq bounces back after solid US hiring data

NEW YORK, May 5 (AFP): Tech shares were higher early Wednesday, staging a partial recovery from the prior session's rout after a solid April employment report and strong General Motors results.

US private firms added 742,000 jobs in April, according to a survey from payroll services firm ADP, fewer than expected but nonetheless the fourth consecutive month of gains as the economy recovers from the Covid-19 pandemic.

The report comes ahead of Friday's closely-watched government jobs report, where the Labor Department will say how many jobs the economy added last month, and update the unemployment rate.

About 15 minutes into trading, the Dow Jones Industrial Average was essentially flat at 34,136.12.