The analysis is fundamentally driven, focusing on various factors impacting market sentiment. United States markets will be closed for Labor Day, which will subdue trading activity in Asia with mixed results. Alibaba shares surged in Hong Kong due to optimism in its cloud computing business. The US Court of Appeals struck down the Trump administration's tariffs, creating ambiguity on trade policy, with the White House having until mid-October to appeal to the Supreme Court. Weak payroll numbers increased expectations for a rate reduction, with the probability of a 25 basis point cut at 87%. The analysis notes that non-farm payrolls are expected to increase. Factory activity in China has expanded, but manufacturers remain cautious due to rising costs and supply chain delays. The energy front oil prices are edging higher amid mixed signals due to the Russia-Ukraine conflict, as brent and west Texas crude futures gained after declines in august.