Wall Street stocks rebound after positive jobs data

Wall Street stocks advanced Wednesday after better-than-expected jobs data soothed concerns about the US economy with equity buyers stepping in following the prior session's retreat.

US private sector employment jumped 42,000 in October, ADP said, rebounding from a loss of 29,000 jobs in September, nearly double the amount forecasted by economists surveyed by Dow Jones Newswires and The Wall Street Journal.

The ADP figures are likely to attract renewed attention as it is one of the few economic indicators released in recent weeks amid the US government shutdown and will feed into investors' perceptions of whether the US Federal Reserve will cut interest rates again in December.

The Institute of Supply Management's index of services industry activity -- another rare data point -- came in