US STOCKS-Wall Street rises as weak ADP jobs data bolsters rate-cut bets

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* U.S. ADP payroll change lowest since March 2010
* Bets of an interest rate cut increase; banks fall
* Salesforce.com gains after FY forecast above expectations
* Technology stocks rise the most among S&P sectors
* Indexes up: Dow 0.53%, S&P 0.48%, Nasdaq 0.67%

(Updates to open)
By Medha Singh
June 5 (Reuters) - U.S. stocks gained on Wednesday after
data showed that the private sector added fewest jobs in May
since 2010, raising the odds that the Federal Reserve would cut
interest rates to counter a potential slowdown.
Private-sector jobs rose by 27,000 last month, according to
the ADP National Employment Report, much below expectations of a
180,000 increase. MMT/
The data, which comes ahead of a more comprehensive nonfarm
payrolls from the Labor Department due on Friday, increased the
likelihood that the U.S. central bank would cut interest rates
by at least 75 basis points through December.
"The ADP number does raise some concerns about the further
impact of tariffs. It adds to the case of interest rate cuts,
the odds of that happening are going up," said Scott Brown,
chief economist at Raymond James in St. Petersburg, Florida.
Interest-rate sensitive banking stocks .SPXBK slipped
0.88%, while the broader financial sector .SPSY fell 0.31%.
The report comes a day after Fed Chairman Jerome Powell said
the central bank would respond "as appropriate" to risks posed
by a global trade war, adding to expectations after dovish
remarks from St. Louis Federal Reserve President James Bullard.
The escalation in the trade dispute between the United
States and China last month has triggered worries of a global
economic slowdown and has put the benchmark S&P 500 index .SPX
5% away from its record high of 2,954.13 hit on May 1.
The technology sector .SPLRCT , among the hardest hit by
the sharp rise in trade tensions, rose 1.36% and boosted
markets. The sector was supported by near 2% gains in Apple Inc
AAPL.O and Microsoft Corp MSFT.O .
At 9:39 a.m. ET, the Dow Jones Industrial Average .DJI was
up 134.04 points, or 0.53%, at 25,466.22. The S&P 500 was up
13.50 points, or 0.48%, at 2,816.77 and the Nasdaq Composite
.IXIC was up 50.74 points, or 0.67%, at 7,577.86.
The energy sector .SPNY slipped 0.52%, and was the only
other S&P sector trading lower, as crude prices declined on
higher U.S. inventories. O/R
Among other stocks, Salesforce.com Inc CRM.N rose 3.95%
after its quarterly revenue and profit beat analysts' estimates
and the company forecast full-year results above expectations.
Campbell Soup Co CPB.N jumped 6.5%, the most on the S&P
index, after the food company raised its full-year profit
forecast after better-than-expected quarterly earnings.

Advancing issues outnumbered decliners by a 1.77-to-1 ratio
on the NYSE and by a 1.53-to-1 ratio on the Nasdaq.
The S&P index recorded 28 new 52-week highs and one new low,
while the Nasdaq recorded 29 new highs and 12 new lows.