NEW YORK - UPBEAT global economic reports are giving stocks a lift.

Investors started the third quarter on a positive note after the ADP National Employment Report said on Wednesday that private sector employment fell by 473,000 in June. That was less than the 532,000 jobs shed in May.

Job losses are a key focus as investors try to determine whether the economy is pulling out of the recession. The ADP report comes a day ahead of the Labor Department's key monthly jobs report.

Earlier, the market had risen on manufacturing reports in Britain and the 16 countries that share the euro currency.

Later Wednesday morning, investors will get reports on manufacturing, construction spending and pending home sales.

In early trading, the Dow Jones industrial average rose 70.67, or 0.8 per cent, to 8,517.67.

The Standard & Poor's 500 index rose 6.67, or 0.7 per cent, to 925.99, and the Nasdaq composite index rose 11.68, or 0.6 per cent, to 1,846.72. -- AP