JPMorgan's trading desk has abandoned its tactical neutral stance on U.S. stocks and turned bullish ahead of the September nonfarm payrolls report. The bank sees a more supportive near-term backdrop as economic activity exceeds expectations, consumers remain resilient, corporate earnings growth holds up and bond yields potentially settle at new levels. Andrew Tyler, JPMorgan's head of U.S. market intelligence, said in a Monday client report that the market mix is improving as yields stabilize and oil prices, while still volatile, potentially decline gradually. He said growth and earnings remain sufficient to support risk assets. The shift reverses a cautious position adopted in late August after Fed Chair Wosh delivered hawkish signals at Jackson Hole and markets rapidly increased interest-rate expectations. Tyler had also turned cautious in early June, before U.S. stocks underwent several weeks of declines.