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Salesforce ( CRM ) jumps after beating Q3 revenue estimates

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November ADP private payrolls at 146,000 versus 150,000

estimate

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ISM non-manufacturing PMI at 52.1 in November, below

estimates

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Indexes up: Dow 0.47%, S&P 500 0.27%, Nasdaq 0.68%

(Updates at market open)

By Shashwat Chauhan and Purvi Agarwal

Dec 4 (Reuters) -

Wall Street's main indexes climbed on Wednesday, with the

S&P 500 and the Nasdaq touching record highs propelled by gains

in technology stocks, while investors awaited comments from

Federal Reserve Chair Jerome Powell later in the day.

U.S. private payrolls increased at a moderate pace in

November, the ADP National Employment Report showed, with

private payrolls rising by 146,000 jobs after advancing by a

downwardly revised 184,000 in October.

"There's been a lot of noise for job figures due to

distortions in the economy and the correlation between the ADP

and the nonfarm payrolls print, which is the really important

one for the outlook and for Fed policy," said Zachary Hill, head

of portfolio management at Horizon Investments.

"I don't really think the markets are going be focusing on

today's ADP report."

The data comes before the highly anticipated November

monthly employment report, due on Friday.

Separately, data from the Institute for Supply Management

showed non-manufacturing activity stood at 52.1 last month,

while the final reading of the S&P services survey was revised

lower to 56.1.

At 10:03 a.m. the Dow Jones Industrial Average rose

211.99 points, or 0.47%, to 44,917.52, the S&P 500 gained

16.50 points, or 0.27%, to 6,066.38 and the Nasdaq Composite

gained 132.66 points, or 0.68%, to 19,613.57.

The CBOE Market Volatility Index, Wall Street's

fear gauge, briefly dipped below 13 points for the first time

since July 2024.

Salesforce ( CRM ) provided the biggest boost to the

blue-chip Dow, jumping 8.5% after the enterprise cloud company

beat Street estimates for third-quarter revenue and raised the

lower end of its annual revenue forecast.

Information Technology stocks hit a record high,

buoyed by gains in megacaps such as Microsoft ( MSFT ) and

Nvidia ( NVDA ).

Marvell Technology ( MRVL ) advanced 21.2% after the

chipmaker forecast fourth-quarter revenue above analyst

estimates, while the broader Semiconductor index was up

1%.

Market focus stays on Powell's comments, which are due

later in the day, while the central bank's Beige Book, its U.S.

economic activity survey report, is scheduled for release at

2:00 p.m. ET.

St. Louis Fed President Alberto Musalem spoke on the

day, joining other Fed officials this week in

signaling

support for further interest-rate cuts, but none pushed

strongly for or against another reduction at the next Fed

meeting in two weeks.

The S&P 500 and the Nasdaq posted record

closing highs on Tuesday, as tech-related stocks continued to

surge during the turbulent session.

U.S. stocks had a solid November after President-elect

Donald Trump's victory in the Nov. 5 election and his Republican

Party sweeping both houses of Congress.

Dollar Tree ( DLTR ) added 1.5% after the discount store

operator beat third-quarter sales estimates, while drugmaker Eli

Lilly ( LLY ) was up 1.4% after its weight-loss drug Zepbound

topped rival Wegovy in a head-to-head study.

Advancing issues outnumbered decliners by a 1.05-to-1 ratio

on the NYSE, and by a 1.3-to-1 ratio on the Nasdaq.

The S&P 500 posted 20 new 52-week highs and four new

lows, while the Nasdaq Composite recorded 83 new highs and 49

new lows.