06:17 AM EDT, 09/02/2025 (MT Newswires) -- US equity investors will focus on the jobs data in this holiday-shortened week while keeping an eye on legal developments relating to the firing of Fed Governor Lisa Cook and trade tariffs.

* Jobs data due includes non-farm payrolls, job openings, ADP, jobless claims, and Challenger job cuts. Investors will see the impact of trade tariffs in the balance of trade data, while the ISM manufacturing and services figures will shed light on the strength of the US economy.

* The odds of a 25-basis-point cut in interest rates in September stood at 90% early Tuesday, up from 86% on Friday last week, according to the CME FedWatch Tool. The probability of the Federal Reserve leaving rates unchanged for the month was 10% versus 14% a day earlier.

* The Trump administration's recent attempt to remove Cook from the Fed's board "is a kill shot at Fed independence," Aaron Klein, a senior fellow at the Brookings Institution, told Bloomberg last week. "Trump is saying the Fed is going to do what he wants it to do, by hook or by crook," referring to President Donald Trump's calls to cut interest rates to help the US lower its interest-rate burden.

* Investors will watch out for further developments on the trade-tariff front, given the recent meetings among India, China, and Russia. Given Moscow's presence in this alliance, any news about the Russia-Ukraine peace deal will be monitored closely. New developments may emerge about the U.S. Court of Appeals for the Federal Circuit ruling that most of Trump's trade tariffs are unlawful.

* "Now, with the help of the United States Supreme Court, we will use them to the benefit of our Nation, and Make America Rich, Strong, and Powerful Again! Thank you for your attention to this matter," Trump wrote in a social media post following the ruling.

* Earnings due this week include Zscaler ( ZS ) , Salesforce ( CRM ) , Hewlett Packard Enterprise Company (HPE), Dollar Tree (DLTR), Broadcom ( AVGO ) , and Lululemon (LULU).