Wall Street Rallies on Reassuring Fed Tone as Markets Await US NFP

Macro & Central Banks

• Reassuring Fed Tone: Comments from Fed Governor Christopher Waller eased fears of an immediate interest rate hike, sparking a sharp rebound across Wall Street.
• ECB Hawkish Outlook (FDAX): JPMorgan now expects the ECB to raise rates to 2.50% next week and potentially target 2.75% in December, driven by sticky core inflation and ongoing energy price pressures.

Indices & Tech

• Wall Street Rally: US benchmarks posted their best session in weeks. The S&P 500 advanced +1.06% (7,747 pts) while the Nasdaq Composite gained +1.40% (26,584 pts).
• Tech Megacaps Lead: Strong gains in Microsoft (+2.68%) and Salesforce (+2.92%) pushed the Nasdaq higher. On Friday morning, S&P 500 and Nasdaq 100 futures are trading flat.
• Risk-On Sentiment: Bitcoin hit a high of $82,180 following $2.8 billion in single-day spot ETF inflows, driving a +17.56% surge in Strategy stock.

Today's Focus

• US Non-Farm Payrolls (NFP): The dominant macro catalyst of the session, likely to trigger heightened volatility on ES and NQ futures.