(Updates to U.S. mid-afternoon)

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Robinhood, AppLovin ( APP ) jump on S&P 500 inclusion plans

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EchoStar ( SATS ) jumps on spectrum licenses deal with SpaceX

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Barclays ( BCS ), StanChart revise Fed rate cut projections

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S&P 500 +0.08%, Nasdaq +0.44%, Dow -0.11%

By Purvi Agarwal and Ragini Mathur

Sept 8 (Reuters) -

The Nasdaq climbed to a record high on Monday, lifted by a

rally in Broadcom ( AVGO ), while the S&P 500 rose marginally as

investors bet the Federal Reserve will soon lower borrowing

costs to shore up economic growth.

Investors expect multiple interest rate cuts this year

after a troubling nonfarm payrolls report on Friday added to

concerns about a weakening U.S. job market. The report, which

had dragged down Wall Street in the previous session, has stoked

fears of a potential slowdown in the world's biggest economy.

Traders have fully priced in at least a 25 basis points

interest rate cut when the Fed wraps up its two-day policy

meeting on September 17, with interest rate futures reflecting a

10% chance of a 50 basis point cut, according to CME Group's

FedWatch tool.

"The focus is on next Wednesday's Fed rate cut. The market

is greedy. It's already discounted 25 basis points. Now, if

people are buying because they expect 50, well, that's not going

to happen," warned Jake Dollarhide, chief executive officer of

Longbow Asset Management in Tulsa, Oklahoma.

Numerous brokerages have revised calls for Fed

interest-rate cuts. Barclays ( BCS ) now anticipates three cuts of 25

bps each in 2025 compared with two earlier, while Standard

Chartered ( SCBFF ) expects a 50-bps trim in September - up from its

earlier projection of a 25-bps reduction.

Broadcom ( AVGO ) climbed 2.7%, extending its rally since

the chipmaker said last Thursday it expects sharp artificial

intelligence-related revenue growth.

This week, investors will keep a close watch on inflation

data and the Bureau of Labor Statistics' benchmark payroll

revision for further clues on the U.S. economic health and to

see if they could strengthen the case for a bigger rate cut.

"The growth scare from the labor market is going to

overwhelm even hot inflation because the Fed right now is

viewing any tariff-induced inflation as a one-time price

increase," said Jeff Schulze, head of economic and market

strategy at Clearbridge Investments.

The S&P 500 was up 0.08% at 6,486.83 points.

The Nasdaq rose 0.44% to 21,796.72 points, while the Dow

Jones Industrial Average was down 0.11% at 45,349.78 points.

Eight of the 11 S&P 500 sector indexes declined, led lower

by real estate, down 1.28%, followed by a 1.11% loss

in utilities.

Among other stocks, retail trading platform Robinhood

Markets ( HOOD ) and marketing platform AppLovin ( APP ) jumped

13% and 11%, respectively. The companies are set to join the S&P

500, effective September 22.

EchoStar ( SATS ) soared 18% after the telecommunications

services firm agreed to sell wireless spectrum licenses to

SpaceX for its Starlink satellite network for about $17 billion.

Other telecommunications companies fell, with AT&T ( T ),

Verizon and T-Mobile slipping between 1% and 3%.

Declining stocks outnumbered rising ones within the S&P 500

by a 2.2-to-one ratio.

The S&P 500 posted 15 new highs and eight new lows; the Nasdaq

recorded 123 new highs and 85 new lows.