The major averages performed well as traders shook off weak private employment data earlier in the morning. A big jobs report looms over the market, with traders wanting a figure Friday that bolsters rate cut chances without causing a scare about a recession.  The Dow Jones Industrial Average rose over 300 points, or 0.8%. The S&P 500 rose 44 points or 0.69% while the Nasdaq Composite rose 167 points or 0.78%.

The ADP private payrolls report showed an increase of 54,000 in August. Economists polled by Dow Jones had expected private employers to add 75,000 jobs. The figure is also less than the revised 106,000 in July. Bonds were quiet ahead of the jobs number.

On the earnings front, Abercrombie Eagle was a diamond up 30% on strong earnings. The trendy retailer got a boost from new ad campaigns from movie star, Sydney Sweeney and NFLS star Travis Kelce. The new campaigns have added more than 700,000 new customers and the campaigns together have generated more than 40 billion impressions. American Eagle is seeing rising inventory costs due to tariffs.  

The dog on earnings was Salesforce down 5% following earnings and weak guidance. The software firm beat by 13 cents as revenue rose 10% to $10.24 billion. However, their core cloud software business continues to slow with less subscription growth. BMO Capital maintained their buy rating, but lowered their price target. Software in general was weak today.

In the commodity space, oil was lower again down a percent. Gold was down a percent while bitcoin fell 2%.

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