U.S. equities staged their strongest advance since late May on Monday as weaker-than-expected July payrolls reinforced expectations that the Federal Reserve will start cutting interest rates as soon as September. Bargain hunting after Friday’s sell-off sent all three major indexes higher, with traders pricing in an 84% chance of a quarter-point move, CME FedWatch data show. The Dow Jones Industrial Average climbed 1.34% to 44,173.64, the S&P 500 added 1.47% to 6,329.94 and the Nasdaq Composite rose 1.95% to 21,053.58. The rebound followed a report showing the economy added only 73,000 jobs in July, well below the 110,000 economists had forecast and alongside downward revisions to prior months. Technology names led the rally. Tesla gained about 2% after awarding Chief Executive Officer Elon Musk 96 million shares, a package valued near $29 billion. Spotify advanced 5% on plans to raise the price of its premium subscription, while Joby Aviation surged almost 19% after agreeing to acquire Blade Air Mobility’s passenger business for up to $125 million. Investors largely looked past fresh political uncertainty—including President Donald Trump’s dismissal of the Bureau of Labor Statistics commissioner and the unexpected resignation of Federal Reserve Governor Adriana Kugler—as well as new tariff threats against India. Solid second-quarter earnings, which are running 9.1% above year-earlier levels, added to the positive tone and helped lift Asian markets in early Tuesday trading.