US stocks started the day mixed on Wednesday as investors turned cautious ahead of a crucial US jobs report due on Thursday. The Dow Jones Industrial Average slipped 111 points, or 0.25%, reaching 44,383.86. S&P 500 rose a marginal 1.79 points or 0.33%, trading at 6,199.80. Tech-heavy Nasdaq also reached 20,270.24, rising 67.35 points or 0.33%. The jitters come after data released from ADP showed an unexpected fall in private-sector employment last month. Employers outside the government reportedly cut 33,000 jobs, a stark contrast to economists’ forecasts of a 115,000-job gain. “Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” said Nela Richardson, chief economist at ADP. Many of the planned tariffs, a key part of Trump’s trade strategy, remain on hold but are expected to take effect within a week. Their potential to disrupt supply chains and drive up prices has left businesses wary, possibly leading to hiring freezes or slowdowns. Adding to the drag, the US government’s recent termination of temporary protected status for roughly 350,000 Venezuelans could knock up to 25,000 jobs off the payroll, according to Goldman Sachs economist David Mericle. Bond markets reflected the mixed mood. The 10-year Treasury yield nudged up to 4.29% from 4.26%, while the more Fed-sensitive two-year yield dipped slightly to 3.77%. A weaker-than-expected jobs report could prompt the Federal Reserve to consider cutting interest rates sooner than planned. But so far, the Fed has signalled a wait-and-watch approach, preferring to assess the impact of Trump’s tariff strategy before adjusting monetary policy.