In a day marked by volatility, Wall Street's main indexes experienced marginal gains and losses on Wednesday as investors grappled with a soft job openings report and dovish comments from a Federal Reserve (Fed) policymaker.

According to data from the Bureau of Labor Statistics, job openings plunged to a 3-and-a-half-year low in July, indicating a potential loss of momentum in the labor market. However, experts believe that this might not be enough to prompt a significant interest rate cut by the Fed this month. All eyes are now on the crucial August non-farm payrolls data, which will be released on Friday and could influence expectations regarding the size of an anticipated rate cut.

Economists are concerned that the US economy might be slowing down more than initially expected, and any unexpected surprises in Friday's payrolls data may push the Fed to adopt a more aggressive stance. "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,'" warned Atlanta Fed President Raphael Bostic.

The market has adjusted its expectations for a rate cut, with CME Group's FedWatch Tool indicating a 55% chance of a 25-basis point cut, down from 61% earlier in the day. The likelihood of a 50-basis point cut stands at 45%.

After a sharp decline in technology-related stocks at the beginning of September, Wall Street's main indexes showed signs of stabilization on Wednesday, rebounding from their biggest one-day loss since early August. It is worth noting that historically, the month of September has been weak for US equities, with the S&P 500 recording average losses of about 1.2% since 1928.

The day also saw an announcement that the Fed's "Beige Book," a compilation of surveys and interviews, would be released. Investors eagerly await its insights into the economic climate and potential impacts on monetary policy.

At 11:47 a.m., the Dow Jones Industrial Average rose by 85.67 points or 0.21% to reach 41,022.60. The S&P 500 gained a marginal 0.70 points or 0.01% and closed at 5,529.63. Meanwhile, the Nasdaq Composite dipped by 6.40 points or 0.04% to settle at 17,129.90.

Among the S&P 500 sectors, utilities stocks led the gainers with a rise of 1%, while tech shares slipped by 0.3%. Financial stocks, including Goldman Sachs and Travelers, helped support the blue-chip Dow and kept it afloat.

In terms of individual stocks, the Philadelphia SE Semiconductor index rebounded by 0.4% following its significant drop in the previous session due to concerns surrounding the COVID-19 pandemic. Advanced Micro Devices saw a 3% increase after appointing Keith Strier, a former executive at Nvidia, as its senior vice president of global AI markets. On the other hand, Nvidia registered a 0.3% decline as the US Department of Justice reportedly intensified its antitrust probe into the company.

Growth stocks, such as Apple and Amazon.com, experienced declines of 1.8% and 1% respectively. Additionally, Zscaler, a cybersecurity company, lowered its revenue and profit forecasts for fiscal 2025, which led to a significant drop of 17.6% in its shares. Dollar Tree, a discount store operator, also saw its shares slump by 19% as it trimmed its annual sales and profit estimates.

With a 1.66-to-1 ratio on the NYSE and a 1.19-to-1 ratio on the Nasdaq, advancing issues outnumbered decliners. The S&P 500 marked 70 new 52-week highs and seven new lows, while the Nasdaq Composite recorded 33 new highs and 111 new lows.

As the week progresses, all eyes remain on Friday's non-farm payrolls data, which will likely have a substantial impact on the Federal Reserve's decision-making regarding interest rates and how Wall Street performs in the coming days.