U.S. stocks open lower amid interest rate hike concern

U.S. stocks opened lower Wednesday as investors assessed the newly-released jobs data for clues on the timing of the next interest rate hike.

U.S. private sector employment increased by 179,000 jobs from June to July, better than market expectations, said the July ADP National Employment Report Wednesday.

If the U.S. labor market is robust enough, the U.S. Federal Reserve might raise interest rates later this year, said analysts.

Atlanta Fed President Dennis Lockhart said Tuesday that he would not rule out a rate increase at the central bank's next meeting in September.

Meanwhile, investors are also keeping a close eye on Friday's nonfarm jobs report this week for more clues on the Fed's next move.

Oil prices were also in focus, with U.S. oil settling below 40 U.S. dollars a barrel on Tuesday for the first time since April, as concerns about a supply glut continued to weigh on the market.

Shortly after Wednesday's opening bell, the Dow Jones Industrial Average ticked down 13.29 points, or 0.07 percent, to 18,300.48. The S&P 500 fell 3.66 points, or 0.17 percent, to 2,153.37. The Nasdaq Composite Index lost 6.49 points, or 0.13 percent, to 5,131.24.

U.S. stocks closed lower Tuesday, following a broad decline in global stock markets, as investors assessed the country's consumption data. Endi