E-mini Russell 2000 futures outperformed major U.S. equity indices, with the September contract rebounding from early lows to test 2,962.40. August private payrolls missed expectations by adding just 38,000 jobs, marking the weakest print since January. While the soft labor data raises concerns over domestic demand, the resulting drop in Treasury yields offered support to small caps ahead of Friday's non-farm payrolls report. Furthermore, Russell 2000 companies benefited from their domestic focus, sheltering them from unresolved trade tariffs and ongoing geopolitical conflicts involving Iran. An advancing funding bill also removed the immediate risk of a government shutdown.