Dow Jones Jumps Despite Dismal Jobs Report; Disney Stock Soars, and Apple Stock Can't Keep Up

Private payrolls rose by just 167,000 in July, according to ADP, far below the increase of 1 million that economists were expecting. The disappointing report does not bode well for the U.S. economy, which is still reeling from the pandemic.

The stock market entirely ignored the payrolls report on Wednesday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) up 1.15% at 12:55 p.m. EDT. That gain was partly driven by Disney (NYSE: DIS) stock, which soared after a quarterly report that was deemed good enough by investors. Meanwhile, shares of tech giant Apple (NASDAQ: AAPL) failed to participate in the rally following an analyst downgrade.

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Source Fool.com