
Payrolls Preview Sparks Broad Market Rally as Fed Hints at Pause
U.S. stocks rallied Thursday (Dow ~+1.2%, S&P 500 ~+1%, Nasdaq ~+1.4%), while futures were broadly flat ahead of Friday’s August payrolls report (consensus +53,000 jobs, unemployment 4.1%). A softerTreasuries backdrop followed Fed Governor Waller’s hint of a rate pause at 3.5%–3.75% in September, with inflation metrics next week as key catalysts. The yen strengthened toward multi‑month highs amid intervention talk and BOJ rate‑hike bets, Asia markets opened higher, and after‑hours movers included Lululemon (-18%) and DocuSign beating on earnings; the week remains on track for gains.













