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Job openings stand at 7.67 mln in July

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Nvidia drops after report of subpoena from US DoJ

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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

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Indexes: Dow up 0.21%, S&P 500, Nasdaq flat

(Updated at 11:47 a.m. ET/1547 GMT)

By Johann M Cherian and Purvi Agarwal

Sept 4 (Reuters) - Wall Street's main indexes swung

between marginal gains and losses on Wednesday following a soft

job openings report and dovish comments from a Fed policymaker.

Data from the Bureau of Labor Statistics showed job openings

dropped to a 3-1/2-year low in July, suggesting the labor market

was losing steam, but probably not enough for the Federal

Reserve to consider a big interest rate cut this month.

The data comes ahead of the crucial August non-farm payrolls

numbers due on Friday, which could sway bets on the size of the

U.S. central bank's expected rate cut.

There's a fear that the economy is slowing down more than

expected and any surprise to Friday's payrolls data can cause

the Fed to take a more aggressive stance than initially

expected, Adam Sarhan, CEO of 50 Park Investments, said.

Markets now see a 55% chance of a 25-basis point interest

rate cut, according to CME Group's FedWatch Tool, down from 61%

earlier in the day, while that of a 50-bps cut stands at 45%.

Waiting until inflation has actually fallen back to the

Fed's 2% goal before reducing borrowing costs "would risk labor

market disruptions that could inflict unnecessary pain and

suffering," Atlanta Fed President Raphael Bostic said.

Wall Street's main indexes showed signs of stabilizing on

Wednesday. In the previous session, the indexes had logged their

biggest one-day loss since early August as investors dumped

technology-related stocks in a dour start to September.

Since 1928, the benchmark S&P 500 has recorded losses of

about 1.2% on average in the historically weak month for U.S.

equities.

The Fed's "Beige Book" compendium of surveys and interviews

is also expected on Wednesday.

At 11:47 a.m. the Dow Jones Industrial Average rose

85.67 points, or 0.21%, to 41,022.60, the S&P 500 gained

0.70 point, or 0.01%, to 5,529.63, and the Nasdaq Composite

lost 6.40 points, or 0.04%, to 17,129.90.

Seven of the 11 S&P 500 sectors were higher, led by

utilities stocks which rose 1%. Tech shares

slipped 0.3%.

A rise in financial stocks such as Goldman Sachs ( GS ) and

Travelers helped keep the blue-chip Dow above water.

The Philadelphia SE Semiconductor index recovered

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

previous session and was up 0.4%.

Advanced Micro Devices ( AMD ) rose 3% after it named former

Nvidia executive Keith Strier as its senior vice president of

global AI markets.

Nvidia shed 0.3% after a report said 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.

Other growth stocks such as Apple ( AAPL ) slipped 1.8% and

Amazon.com ( AMZN ) fell 1%.

Zscaler ( ZS ) forecast fiscal 2025 revenue and profit below

estimates, sending its shares down 17.6%, while Dollar Tree ( DLTR )

slumped 19% after the discount store operator trimmed

its annual sales and profit forecasts.

Advancing issues outnumbered decliners for a 1.66-to-1 ratio

on the NYSE and a 1.19-to-1 ratio on the Nasdaq.

The S&P 500 posted 70 new 52-week highs and seven new lows,

while the Nasdaq Composite recorded 33 new highs and 111 new

lows.