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Indexes up: Dow 0.07%, S&P 500 0.06%, Nasdaq 0.04%

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Nebius ( NBIS ) jumps after $17.4B deal with Microsoft ( MSFT )

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UnitedHealth ( UNH ) sees in-line top-rated Medicare plan

memberships

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Teck Resources climbs on merger deal with Anglo American

(Updates after markets open)

By Purvi Agarwal and Ragini Mathur

Sept 9 (Reuters) -

Wall Street's main indexes were largely subdued on Tuesday

after closing near record highs in the previous session, while a

downwards payrolls revision kept intact bets of interest rate

cuts from the Federal Reserve.

The U.S. economy likely created 911,000 fewer jobs in

the 12 months through March than

previously estimated

, the government said, suggesting that job growth was

already stalling before President Donald Trump's aggressive

tariffs on imports.

Bets on a 25 basis point cut, that was already priced

in, were intact while ones on a jumbo 50 bps reduction remained

at about 10%, as per CME's FedWatch tool.

Labor market indicators recently have already cast concerns

across the minds of investors and Fed officials alike, with

nonfarm payroll data for July and August confirming weakening

labor market conditions.

At 10:05 a.m. ET, the Dow Jones Industrial Average

rose 31.09 points, or 0.07%, to 45,546.04, the S&P 500

gained 3.98 points, or 0.06%, to 6,499.13 and the Nasdaq

Composite gained 5.91 points, or 0.04%, to 21,804.61.

Israel's attack on

Hamas leaders

in Qatar's capital city Doha boosted already rising oil

prices, that lifted the energy sector 1.8%.

UnitedHealth ( UNH ) gained 3.2% after the health insurer

said it expects enrollment in top-rated Medicare insurance plans

to be in line with its expectations.

Inflation reports due this week will also be on investors'

radar to gauge the impact of President Donald Trump's tariff

policies on the U.S. economy, and whether a case could be made

for a bigger rate cut.

"Given the recent softness in the labor market data,

even if we were to see elevated inflation data this week,

the Fed would cut rates next week," said Chris Kampitsis,

managing partner at Barnum Financial Group.

"But that would be a 'one and done' rate cut, especially

if inflation data remains elevated in the near-term."

The three main indexes finished Monday's session on a higher

note, with the tech-heavy Nasdaq closing at a record, lifted by

a rally in chip major Broadcom ( AVGO ).

Wall Street has had a broadly positive start to September, a

month deemed historically bad for U.S. equities, with the

benchmark index losing 1.5% on average since 2000, data compiled

by LSEG showed.

In other stocks, Nebius ( NBIS ) soared about 35% after the

AI infrastructure firm signed a $17.4-billion deal with

Microsoft ( MSFT ). Rival CoreWeave ( CRWV ) also rose 7%.

U.S.-listed shares of Teck Resources jumped 14% as

the miner agreed to merge with London-listed Anglo American

on Tuesday.

Class B shares of Fox Corp and News Corp

dipped 6.1% and 2.4% respectively. Rupert Murdoch and his

children reached an agreement that will give the eldest son

Lachlan Murdoch control over the media empire.

Albemarle plunged 11%, the biggest decliner on the

S&P 500, on easing supply concerns after Chinese battery giant

CATL expected to resume production at a lithium mine.

Declining issues outnumbered advancers by a 1.26-to-1

ratio on the NYSE and by a 1.28-to-1 ratio on the Nasdaq.

The S&P 500 posted 10 new 52-week highs and no new lows,

while the Nasdaq Composite recorded 52 new highs and 45 new

lows.