By Md Manzer Hussain

Sept 5 (Reuters) - Most stock markets in the Gulf were up in early trading on Thursday amid higher oil prices, while investors also scoured for clues to the health of the U.S. economy and the labour market.

Oil prices, a catalyst for the Gulf's financial markets, rose 0.8% as major producers may delay an output increase planned for next month and U.S. inventories fell.

The Abu Dhabi benchmark index .FTFADGI was up 0.5%, supported by a 1.3% gain in ADNOC Gas ADNOCGAS.AD and a 1.1% rise in ADNOC Drilling ADNOCDRILL.AD.

Meanwhile, Abu Dhabi state oil giant ADNOC will acquire a 35% stake in a planned Exxon Mobil XOM.N large-scale hydrogen plant in Texas, the companies said on Wednesday.

Dubai's benchmark stock index .DFMGI rose 0.3%, aided by gains in most sectors, with Emaar Properties EMAR.DU adding 1.6% while Dubai Electricity and Water Authority DEWAA.DU increasing by 1.7%.

Elsewhere, growth in the United Arab Emirates' non-oil private sector rebounded in August, a survey showed on Wednesday, supported by a pickup in new orders.

Saudi Arabia's benchmark stock index .TASI was down 0.2% in early trading, with most of its constituents posting losses.

ACWA Power 2082.SE fell 1% and Saudi Arabian Mining 1211.SE lost 1.1%. Fawaz Abdulaziz Alhokair Co 4240.SE, however, surged 10% after the retailer said it canceled a capital reduction plan.

The Qatari benchmark index .QSI inched up 0.1% with Qatar National Bank QNBK.QA, the region's largest lender, adding 0.4%, and telecom services provider Ooredoo ORDS.QA gaining 2.2%.

Investors will focus on a reading on the U.S. services industry and jobless claims data on Thursday, along with August report for nonfarm payrolls due on Friday.

Markets are now pricing in a 44% chance of a cut of 50 basis points at the bank's Sept. 17-18 meeting.

Monetary policy in the six-member Gulf Cooperation Council is usually guided by the Fed's decisions, as most regional currencies are pegged to the U.S. dollar.

(Reporting by Md Manzer Hussain; editing by Alan Barona)

((mdmanzer.hussain@thomsonreuters.com; +91 8067498453))