Nasdaq Composite sets 33rd 2021 record for September kickoff, but Dow and S&P 500 are lackluster

The Nasdaq Composite extended its ascent into record territory on Wednesday, setting its 33rd record in 2021, despite a lower than expected August private sector employment report, which places Friday’s monthly government employment report and the timing of reducing Federal Reserve bond purchases in focus. The Nasdaq Composite COMP,
+ 0.33%
closed up 0.3% to a record close at around 15,309, the S&P 500 SPX Index,
+ 0.03%
finished less than 0.1% higher at 4,524, on a preliminary basis, missing its August 30 record by 4 points, and the Dow Jones Industrial Average DJIA,
-0.14%
ended lower, down 0.1%, at 35,312, under pressure from declines from Caterpillar Inc. CAT,
-1.38%
and Amgen Inc. AMGN,
-0.97%.
The automatic data processing report showed a second consecutive month of weak job creation, with August adding 374,000 private sector jobs, well below the 600,000 predicted by economists surveyed by the Wall. Street Journal. On top of that, the employment increase in July was reduced to 326,000 from 330,000.