New Delhi, Aug. 7 -- The stock market is moving into Friday's jobs report, which undoubtedly will play big in the Fed's next policy decision, with a renewed appetite for risk and a cautious tone on interest rates.

A hike comes to mind. Actually, though, just the opposite. A cut.

A nascent, but growing chorus on Wall Street is suggesting the central bank will pivot toward a rate cut as bond yields extract a little speculative froth from lending markets and job growth slows to a point that supports economic growth but tames inflation.

If that happens, get ready.

That combination could provide a crucial floor of support for stocks, which climbed to fresh all-time highs this week on a revived AI trade, and take the market firmly higher ri...