The S&P 500 and the Nasdaq edged up at open on Wednesday as fresh economic data indicated a cooling U.S. economy, keeping alive hopes the Federal Reserve could pause rate hikes in September.

The Dow Jones Industrial Average slipped 4.87 points, or 0.01 percent, at the open to 34,847.80. The S&P 500 opened higher by 2.71 points, or 0.06 percent, at 4,500.34, while the Nasdaq Composite gained 18.01 points, or 0.13 percent, to 13,961.77 at the opening bell.