Wall St opens higher after data point to softening labor market

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Traders work on the floor of the NYSE in New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing Rights

Sept 1 (Reuters) - Wall Street's main indexes opened higher on Friday after a keenly awaited report showed the unemployment rate rose in August and wage growth slowed, spurring expectations that the Federal Reserve could pause its interest rate hikes.

The Dow Jones Industrial Average (.DJI) rose 154.33 points, or 0.44%, at the open to 34,876.24.

The S&P 500 (.SPX) opened higher by 22.94 points, or 0.51%, at 4,530.60, while the Nasdaq Composite (.IXIC) gained 95.00 points, or 0.68%, to 14,129.96 at the opening bell.

Reporting by Shristi Achar A in Bengaluru; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.

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