Wall Street edges up as investors assess data

US stock indexes edged higher at the start of Thursday’s session following the release of fresh economic data.

According to ADP data published Thursday, the private sector added 54,000 jobs in August, below expectations of 75,000, after adding 104,000 jobs in July.

Meanwhile, Labor Department figures showed that initial jobless claims rose by 8,000 to 237,000 in the week ending August 30, the highest level since late June. Analysts had expected 230,000 claims.

Following the ADP report, CME Group’s FedWatch tool showed that the probability of a Federal Reserve rate cut at the September meeting rose to 97.4%, up from 96.6% the previous day.

At 15:18 GMT, the Dow Jones Industrial Average rose 0.1% (26 points) to 45,297, the S&P 500 gained 0.1% (3 points) to 6,451, while the Nasdaq Composite added 0.1% (11 points) to 21,511.