US: S&P 500, Nasdaq inch up as economic data fuels rate-pause hopes

THE S&P 500 and the Nasdaq edged up at the open on Wednesday (Aug 30) as fresh economic data indicated a cooling US economy, keeping alive hopes the Federal Reserve could pause rate hikes in September.

The Dow Jones Industrial Average slipped 4.87 points, or 0.01 per cent, at the open to 34,847.80.

The S&P 500 opened higher by 2.71 points, or 0.06 per cent, at 4,500.34, while the Nasdaq Composite gained 18.01 points, or 0.13 per cent, to 13,961.77 at the opening bell. REUTERS