U.S. stocks rose on Thursday, S&P 500 up ~0.4%, Nasdaq gaining over 0.3%, and the Dow also climbing ~0.4%, as weaker-than-expected labor data fueled renewed bets on an imminent Fed rate cut.
ADP reported just 54,000 private-sector jobs gained in August, below forecasts, while weekly jobless claims hit their highest level since June, reinforcing dovish expectations.
Traders now see roughly a 95-97% chance of a 25-basis-point cut in September. Meanwhile, attention turned to the Senate hearing for Trump's Fed nominee Stephen Miran, whose plan to remain on unpaid leave from his White House role drew widespread concern over the central bank's independence.
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