A dovish tilt from the US Federal Reserve has flipped the global mood risk-on — Wall Street just posted its best day in a month and Asia is rallying, setting up a firm, gap-up start for the Nifty. The one thing that can rewrite the day: tonight's US jobs report.

US prior close (Sep 3) — best day in a month

Comments from Fed Governor Christopher Waller that he could support holding rates steady if disinflation continues cooled rate-hike fears and pulled Treasury yields lower. As reported by Business Standard and Yahoo Finance: Dow +1.18% to 53,686, S&P 500 +1.06% to 7,667, Nasdaq +1.4% to 26,218.

Asia live now

Green across the board ahead of US payrolls, per Reuters: Nikkei ~+0.8%, Chinese blue-chips ~+1%, Kospi ~+1.1%, Hang Seng near 25,300. The yen has firmed ~2.6% on the week (~155.7/$) as the dollar retreats.

Europe (Sep 3 close)

Mixed, before the US turn: DAX -1.09%, CAC 40 -0.79%, FTSE 100 +0.29%, FTSE MIB +0.10% — weighed by firm oil and Middle-East tension (Business Standard).

India lead

GIFT Nifty ~24,019, up ~52 points, signalling a positive open for Nifty and Sensex (Business Standard).

Commodities & currency

• Brent ~$95-96, WTI ~$90 — elevated on Iran/Strait of Hormuz worries (Trading Economics, Convex).
• Gold surging ~$4,480-4,500/oz (+2%) as the dollar and yields slip (Forbes, Trading Economics).
• USD/INR ~94.4-95.0; Dollar index (DXY) ~99.0 and softening; US 10Y yield ~4.74% (Investing.com, Trading Economics).

Global sentiment

Risk-on — the driver is Waller's dovish signal easing Fed-hike fears, offset only by pre-jobs caution and sticky oil.

Economic data due today

US Non-Farm Payrolls — 6:00 PM IST (the day's marquee event). Forecast ~+55-56K vs a shock -23K prior; unemployment seen steady at 4.1%; average hourly earnings ~+3.0% y/y (Investing.com). A soft print cements bets on a Fed pause/cut — dollar-negative and bullish for Indian equities and IT; a hot beat could revive yields and pressure the rupee. No major India macro release is scheduled today.

What it means for the India open

Expect a positive start led by rate-sensitive banks, IT and metals as global risk appetite returns and yields cool. But upside may stay capped into the afternoon — most desks will keep powder dry until the 6 PM US jobs number, which sets the tone for next week. Elevated crude is the standing risk for oil-marketing and paint/aviation names.

As of 08:45 IST, 4 Sep 2026. Sources: Business Standard, Yahoo Finance, Reuters/Investing.com, Trading Economics, Forbes, Investing.com. Automated pre-market brief for discussion and education only — not investment advice. Verify before acting.