Wall Street stocks lag at the open as traders digest weak US private payrolls and latest vaccine news

9.45am: Wall Street firmly lower at open US stocks started the midweek session firmly in red after a disappointing set of private payroll numbers for last month and after the Nasdaq and S&P 500 benchmarks hit record highs on Tuesday. On Wall Street, the Dow Jones Industrial Average (DJIA)  plunged over 186 points to 29,637 in early deals, while the S&P 500 shed around 14 at 3,648. The Nasdaq index lost over 116 points at 12,241. The ADP private payrolls, seen as a pre-cursor to Friday's main event on the jobs front, saw payrolls increase by 307,000 jobs in November. Economists had predicted a figure of 410,000. The decrease in roles was put down to surging new coronavirus (COVID-19) infections in the USA and the inherent restrictions on business activity due to this pandemic. The slowdown in private hiring also comes after official data showed weakened consumer spending in October  in the USA and less manufacturing activity in November. Positive vaccine roll-out news on the Pfizer (NYSE:PFE)/ BioNTech (NASDAQ:BNTX) jab appeared to do little to lighten the investor mood. Pfizer shares added 3.4% in early trade, while BioNTech ADRs gained over 5%. "The UK has become the first nation to approve a coronavirus vaccine after regulators gave the green light for the health service to begin vaccinations with the Pfizer jab next week. This marks a moment in history as the tide is gradually turned against a virus which has reversed the trend of globalization for much of 2020," noted market analyst at IG, Joshua Mahony. 7.45am: US stocks expected to pull back US stocks are expected to pull back on Wednesday after both the S&P 500 and the Nasdaq Composite closed at record levels in the previous session, with investors awaiting a report on monthly private job creation that will provide fresh hints on the health of the economy. Spread better quotes expect the Dow Jones Industrial Average to drop 96 points at the opening bell, while the S&P 500 is expected to fall 6 points and the Nasdaq Composite is predicted to decline 15 points. Traders in New York seem content to sit back and wait to see what happens after yesterday’s strong run, particularly in regard to possible US stimulus negotiations which reportedly are starting up again in Washington DC between Democrats and Republicans. One stock that may attract market attention at the opening bell is that of Pfizer Inc (NYSE:PFE), which was up 3.9% at US$40.95 in pre-market trading following news that its coronavirus vaccine, developed in partnership with BioNTech, has been approved for use in the UK by regulators. US officials on Monday unveiled details of their plan to distribute vaccines to millions of Americans starting later this month. Also in focus will be that US ADP jobs report, which is expected to show that 410,000 jobs were added last month, an increase from the 365,000 posted in October. Five things to watch on Wednesday: November ADP private payrolls data are due at 8.15am ET on Wednesday, a key pointer ahead of the monthly US non-farm payrolls report on Friday as coronavirus pandemic-led restrictions continue to pose a threat to the labor market recovery. The UK has become the first country to approve the coronavirus (COVID-19) vaccine candidate developed by Pfizer Inc. (NYSE:PFE) and BioNTech. The vaccine rollout will begin next week and the first segments to receive it will be care home residents, health and care staff, the elderly and the clinically extremely vulnerable. Salesforce.com Inc has agreed to buy workplace messaging app Slack Technologies Inc in a $27.7 billion deal, the biggest by the cloud-computing pioneer as it bets on an extended run for remote working and sharpens its rivalry with Microsoft. Walmart Inc has said it will lift the $35 minimum order value that subscribers of its loyalty service had to meet for next-day or two-day shipping, as the retailer gears up for a holiday season dominated by online shopping. The change, starting Friday, only applies to items on the retailer’s website such as toys, appliances and clothing, the company said, adding that groceries, which are delivered from stores, will still have the $35 minimum. Boeing Co’s 737 MAX on Wednesday will make its first public demonstration flight with members of the media since being grounded over fatal crashes, as one of its biggest customers, American Airlines, seeks to prove it is safe for passengers.