Opening Bell: U.S. Stocks Slip on Weak Jobs Data; Etsy Posts Surprise Profit

U.S. stocks slumped on Wednesday, following disappointing jobs data. The ADP employment report showed only 156,000 jobs were created in the private sector in April, missing estimates of 193,000. This report tends to foreshadow what is to come in Friday's jobs report from the Bureau of Labor Statistics. Mining companies BHP Billiton (BHP) - Get Report and Vale (VALE) - Get Report were hit with a $45 billion lawsuit stemming from a dam collapse in Brazil that killed over a dozen people back in November. Etsy (ETSY) - Get Report shares surged after posting an unexpected profit in its first quarter. Net income stood at $0.01 a share, while analysts were expecting a loss of $0.02. This is its first quarterly profit since its debut as a public company in April of last year. TheStreet's Scott Gamm reports from Wall Street.