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Dow flat, S&P 500 up 0.30%, Nasdaq up 0.74%

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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, StanChart revise Fed rate cut projections

(Updates after markets open)

By Purvi Agarwal and Ragini Mathur

Sept 8 (Reuters) - The S&P 500 and the Nasdaq gained on

Monday on hopes that the Federal Reserve could lower borrowing

costs soon in response to the latest jobs data that dragged down

Wall Street in the previous session.

A troubling nonfarm payrolls report on Friday confirmed a

weakening U.S. job market, stoking fears of a potential slowdown

in the world's biggest economy.

Following the report, traders solidified their expectations

for multiple rate cuts this year.

The bets for a 25-basis-point cut now stand at 88%,

according to CME Group's FedWatch tool, while investors are also

hopeful for a jumbo 50-bps cut, compared to no such expectation

before the jobs data was released.

Numerous brokerages have revised calls for Fed interest-rate

cuts. Barclays now anticipates three cuts of 25 bps each in 2025

compared with two earlier, while Standard Chartered expects a

50-bps trim in September - up from its earlier projection of a

25-bps reduction.

"Markets are trying to understand if the (September) rate

cut is going to be enough to stave off further weakening of the

economy and that's why you see a market that is just neutral,"

said Robert Pavlik, senior portfolio manager at Dakota Wealth.

At 09:37 a.m. ET, the Dow Jones Industrial Average

rose 6.85 points, or 0.02%, to 45,407.71, the S&P 500

gained 19.94 points, or 0.30%, to 6,501.20 and the Nasdaq

Composite gained 159.56 points, or 0.74%, to 21,859.95.

Technology stocks, up 0.9%, led the S&P 500 and

the Nasdaq higher. Broadcom ( AVGO ) gained 4.6%, extending its

over 9% gain from Friday, while Nvidia ( NVDA ) edged up 1.5%.

Heavyweight industrial stocks countered gains on the

blue-chip Dow.

All three indexes were hovering around intraday record highs

hit on Friday.

This week, inflation data and the Bureau of Labor

Statistics' benchmark payroll revision will be watched for

further clues on the U.S. economic health and whether the

reports could strengthen the case for a bigger rate cut.

With the Fed in a "blackout" period that bars public

statements in the run-up to its September 16-17 meeting, markets

will have to interpret economic data without fresh guidance from

policymakers in the meantime.

The S&P and the Nasdaq logged gains last week, in a positive

start to a historically dour September. The benchmark S&P 500

has lost 1.5% on average in the month - its worst month since

2000 - data compiled by LSEG shows.

Among other stocks, retail trading platform Robinhood

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

11.4% and 11%, respectively. The companies are set to join the

S&P 500, effective September 22.

Hecla Mining ( HL ) climbed 9% on news of its forthcoming

addition to the small-cap S&P 600 index.

EchoStar ( SATS ) soared 21% 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 2.3% and

4.7%.

Advancing issues outnumbered decliners by a 1.22-to-1 ratio

on the NYSE, and by a 1.1-to-1 ratio on the Nasdaq.

The S&P 500 posted 8 new 52-week highs and 5 new lows, while

the Nasdaq Composite recorded 63 new highs and 38 new lows.

(Reporting by Purvi Agarwal and Ragini Mathur in Bengaluru;

Editing by Pooja Desai and Shinjini Ganguli)