Overview

• U.S. indexes posted their best session since May with the S&P 500 up 1.5%, the Dow rising 585 points and the Nasdaq jumping 2%
• CME FedWatch tool shows roughly 85–95% odds of a September rate cut after July’s payroll report added just 73,000 jobs and revised earlier months sharply lower
• Earnings surprises from Idexx Laboratories, Tyson Foods and other companies reinforced a buy-the-dip mentality in equity markets
• Two-year Treasury yields plunged nearly 25 basis points on Friday, marking the largest one-day drop since last August
• Asian markets followed Wall Street higher as investors await further Fed communications, progress in trade talks and the next wave of corporate reports