12:53 PM EDT, 09/04/2025 (MT Newswires) -- US benchmark stock indexes rose in midday trading on Thursday as investors digested economic data ahead of Friday's August employment report that could potentially boost hopes for a rate cut this month.

The Nasdaq Composite increased 0.4% to 21,574.5, the S&P 500 went up 0.4% to 6,475.2, and the Dow Jones Industrial Average rose 0.5% to 45,478.9. Consumer discretionary led the gainers, while the utilities sector was the biggest decliner intraday.

"Markets are bracing for a dovish nonfarm print [on Friday]," Derek Holt, head of capital markets economics at Scotiabank, said in a note. "Fed funds futures are priced for a cut on [Sept. 17]."

In economic news, ADP's monthly measure of private payrolls showed a 54,000 gain in August, lower than expectations compiled by Bloomberg for a 68,000 increase and following an upwardly revised 106,000 increase in July.

Initial jobless claims rose to a level of 237,000 in the week ended Aug. 30 from a 229,000 level in the previous week, compared with expectations for a smaller increase to 230,000 in a survey compiled by Bloomberg.

"Coupled with the latest slowdown in payroll growth... the recent slew of disappointing employment data paints an increasingly precarious picture of the US labor market, supporting a potential rate cut by the Federal Reserve," Stifel Chief Economist Lindsey Piegza said in a note. "

The Institute for Supply Management's US services index rose to a reading of 52.0 in August from 50.1 in July, compared with expectations for a smaller gain to a reading of 51.0 in a survey compiled by Bloomberg.

In company news, Salesforce ( CRM ) reported overnight higher fiscal Q2 adjusted net income and revenue, provided fiscal Q3 guidance, and updated its fiscal 2026 outlook.

Wedbush Securities said in a note that the fiscal Q3 outlook is "relatively underwhelming" and will overshadow Salesforce's ( CRM ) latest quarterly results. Salesforce ( CRM ) shares were down over 5% in recent Thursday trading.

Texas Instruments ( TXN ) shares slid 3.9% after Chief Financial Officer Rafael Lizardi reportedly said that the company's recovery is not happening with the velocity that some have anticipated. The company didn't immediately respond to a request for comment from MT Newswires.

The US 10-year Treasury yield fell 3.5 basis points to 4.18%. The two-year rate fell 2.2 basis points to 3.59%.

The ICE US Dollar Index was up 0.2% to 98.37.

West Texas Intermediate crude fell 0.6% to $63.62 per barrel.

Gold was down 0.6% to $3,612.40 an ounce, and silver declined 1.6% to $41.05 per ounce.