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Sept 5 - The Nasdaq and the S&P 500 inched up on Thursday after a services activity survey allayed some fears of a slowdown in economic activity, while focus continues to be on the Federal Reserve's interest rate cut that is expected later this month.
On the flip side, ADP National Employment data showed private employers hired the fewest number of workers in 3-1/2 years in August, ahead of Friday's crucial nonfarm payrolls figure. At 10:11 a.m. the Dow Jones Industrial Average , fell 12.19 points, or 0.03%, to 40,962.78, the S&P 500 , gained 15.33 points, or 0.28%, to 5,535.40 and the Nasdaq Composite , gained 141.92 points, or 0.83%, to 17,226.22.
September has been historically weak for U.S. equities, with the benchmark S&P 500 down about 1.2% for the month on average since 1928. The index is down more than 2% so far this week and tech stocks , have fallen over 3%.
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