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Indexes up: Dow 0.01%, S&P 500 up 0.06%, Nasdaq up 0.3%

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September jobs report expected on Thursday

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Dell and Hewlett Packard ( HPE ) drop after Morgan Stanley

downgrades

(Updates on market open)

By Shashwat Chauhan and Twesha Dikshit

Nov 17 (Reuters) - Wall Street's main indexes struggled

for direction on Monday, ahead of a packed week that includes AI

giant Nvidia's ( NVDA ) earnings and the resumption of government data

releases, while Alphabet rose after Berkshire Hathaway ( BRK/A ) disclosed

a stake in the company.

Google-parent Alphabet gained 5.6% after Berkshire

Hathaway ( BRK/A ) revealed a new $4.3 billion stake in the

company and further reduced its stake in Apple ( AAPL ). Apple ( AAPL )

shares, fell 0.9%.

Nvidia's ( NVDA ) results, due after markets close on

Wednesday, will test the sustainability of a stunning rally this

year in AI-related stocks, with some investors concerned about

stretched valuations and signs of a bubble. The chipmaker's

shares were down 1%.

Jefferies Tech Sector Specialist Jeff Favuzza notes the

options market is implying a move of 6% in either direction for

Nvidia ( NVDA ) post earnings.

At 09:44 a.m. ET, the Dow Jones Industrial Average

rose 2.86 points, or 0.01%, the S&P 500 gained 4.65

points, or 0.06%, and the Nasdaq Composite gained 56.05

points, or 0.25%.

The S&P 500 information technology index was down

0.2%, while the Philadelphia SE Semiconductor index added

0.8%.

"Whenever a beloved AI name dips, (investors have) been

piling in ... and you have to ask yourself who are the true

believers and how much money do they have," said Kim Forrest,

chief investment officer at Bokeh Capital Partners.

"It feels like we're getting to a point where one or the

other is running out."

Dell Technologies ( DELL ) dropped 5% after Morgan Stanley

double-downgraded its rating on the AI server maker to

"underweight" from "overweight". Hewlett Packard Enterprise ( HPE )

also fell 3.8% after a Morgan Stanley downgrade.

RETAIL GIANTS TO REPORT

The quarterly earnings season will start to thin out this

week, though not before earnings from retail giants Walmart ( WMT )

, Home Depot ( HD ) and Target ( TGT ).

With the longest government shutdown in U.S. history

officially having ended last week, key data releases from

government agencies are expected in the next few days.

The much-delayed September jobs report will also be released

on Thursday, but may do little more than confirm earlier private

market surveys showing a slowing labor market.

Traders currently see a more than 56% chance that the

Federal Reserve will hold its rate steady in December compared

with a near 94% chance of a 25-basis-point cut seen a month ago,

according to the CME FedWatch Tool.

On Monday, at least four Fed speakers including Governor

Christopher Waller and New York Fed President John Williams are

slated to speak throughout the day. Minutes from the October

meeting - where the central bank cut rates by an expected 25

basis points - are due on Wednesday.

Among other moves, shares of Clearwater Analytics ( CWAN )

rose 5.1% after reports private equity firms Warburg Pincus and

Permira were in talks to buy the investment and accounting

software maker.

Declining issues outnumbered advancers by a 1.6-to-1 ratio

on the NYSE and by a 1.35-to-1 ratio on the Nasdaq.

The S&P 500 posted eight new 52-week highs and six new lows

while the Nasdaq Composite recorded 36 new highs and 101 new

lows.