DJIA up 162.55 points (Il Sole 24 Ore Radiocor) - New York, 04 Sep - US shares were trading higher at midday rebounding from yesterday's sharp losses as growth concerns continued to spook the market ahead of a key jobs report later this week.

Wall Street suffered its worst day yesterday since August 5 as jitters over weak manufacturing data sent indexes lower.

As inflation eases, investors are turning their attention to slowing economic growth and the possibility it might tip the economy into a recession or a sharp downturn. The labor market is also a key cause for concern after recent data signalled unemployment could be starting to pick up.

On the data front, US job openings in July slid to 7.673 million from 7.910 million the month before, missing expectations for a rise to 8.090 million.

Attention now turns to Friday's August jobs report for more clues on how the Federal Reserve might plan its much-expected monetary pivot.

Several Federal Reserve policymakers have pointed to the labour market as a cause for concern, signalling a cut in interest rates might be appropriate to support payrolls.

Investors are currently betting on a 25, or even 50, basis point cut at the central bank's next monetary policy meeting in September.

At 1519 GMT, the Dow Jones was up 162.55 points, or 0.40%, at 41,099.48 points.

The S&P 500 was 13.64 points, or 0.25%, higher at 5,542.57 points.

The Nasdaq was gaining 49.60 points, or 0.29%, at 17,185.27 points.

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(RADIOCOR) 04-09-24 17:33:50 (0463) 5 NNNN