*

S&P 500 and Nasdaq flat in choppy trading

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Job openings indicate labor market easing

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Nvidia edges lower after report of DOJ subpoena

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Dollar Tree ( DLTR ) dives after cutting annual forecasts

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AMD rises after hiring former Nvidia executive Keith

Strier

(Updates to 2:30 p.m. EDT)

By Chibuike Oguh

NEW YORK Sept 4 (Reuters) - U.S. stocks were mostly flat

in choppy trading on Wednesday following labor market data and

comments from a Federal Reserve official that bolster the case

for an interest rate cut.

Labor Department data showed that U.S. job openings fell to

a 3-1/2-year low in July, indicating continued easing of labor

market tightness that could strengthen the Fed's hand to begin

cutting rates at its next meeting later this month.

The benchmark S&P 500, Nasdaq and Dow indexes were flat in

choppy trading, with utilities stocks leading the gainers while

energy and healthcare equities were the main drag. Nine out of

11 S&P 500 sectors were trading down.

"For me, even though the index is flat or down a couple of

basis points, actually the market is up," said Eric Beyrich,

co-chief investment officer at Sound Income Strategies. "The

data always gets messed up, if you will, by the large cap tech

companies which drive everything."

Shares of Nvidia, which suffered a massive $279

billion drop in market value on Tuesday, were up 0.2%. The U.S.

Department of Justice sent a subpoena to the AI chip firm as it

deepens its probe into the company's antitrust practices,

according to a report.

Other megacap growth stocks including Apple ( AAPL ) slipped

1% and Amazon.com ( AMZN ) fell 1.8%. Tesla was up

nearly 5%.

Raphael Bostic, Atlanta Fed president, said on Wednesday the

central bank must not keep interest rates too high much longer

or it risks causing too much harm to employment. He added that

waiting until inflation falls back to the Fed's 2% goal before

cutting rates "would risk labor market disruptions that could

inflict unnecessary pain and suffering."

In Tuesday's session, all three Wall Street indexes slumped

to their biggest one-day loss since early August as investors

dumped technology-related stocks in a dour start to September -

which is historically the worst month for equities.

"Utility stocks are up today because of weak data in jobs

that just bolsters the case that when the Fed meets in almost a

few weeks they are going to cut rates by at least 25 basis

points," Beyrich added.

The Dow Jones Industrial Average rose 3.38 points, or

0.00%, to 40,936.13, the S&P 500 lost 5.11 points, or

0.09%, to 5,523.82 and the Nasdaq Composite lost 1.55

points, or 0.00%, to 17,135.93.

The Philadelphia SE Semiconductor index rebounded

from its biggest one-day drop since the COVID-19 pandemic in the

previous session and was up 0.72%.

Advanced Micro Devices ( AMD ) rose 3.5% after it named

former Nvidia executive Keith Strier as its senior vice

president of global AI markets.

Zscaler ( ZS ) forecast fiscal 2025 revenue and profit below

estimates, sending its shares down nearly 18%. Dollar Tree ( DLTR )

slumped 24% after the discount store operator trimmed

its annual sales and profit forecasts.