A.M. Update

S&P futures are up 0.35%. nasdaq leads up 0.85% after earnings from Broadcom (AVGO +14%) was a notable winner, while Lululemon Athletica (LULU -20%) trades lower in pre-market. The payroll data was weak enough to spark expectations of a 50-basis-point rate cut, but not dire enough to push recession concerns to the forefront. August nonfarm payrolls increased by…