U.S. stocks rallied Thursday, with the S&P 500 on track for its strongest session since early August as Treasury yields fell after Federal Reserve Governor Christopher Waller backed keeping interest rates steady absent surprises in upcoming inflation data. Markets now see a roughly even chance of a rate hike at the Fed's Sept. 15-16 meeting, with the probability falling to 52% from 63% on Wednesday, according to CME Group's FedWatch tool. Enterprise software shares were among the session's strongest performers, extending a rally that began in late July as concerns about artificial intelligence displacing their businesses eased and after the forced unwind of Situational Awareness, a leveraged hedge fund that had bet against the group. The CNBC Investing Club raised its Microsoft price target to $550 from $500 and Salesforce's to $290 from $250, while saying it was not inclined to sell either stock despite both exceeding previous targets. Microsoft is receiving credit for not directing all of its operating cash flow toward AI infrastructure, while Microsoft 365 Copilot has gained traction. Salesforce's Dreamforce conference is two weeks away and typically generates new contracts; the company has booked speakers from AI and other industries. Docusign, Zscaler and Lululemon were scheduled to report earnings after Thursday's close. Friday's jobs report is expected to show 65,000 new jobs in August and a 0.1 percentage-point increase in unemployment to 4.2%, following July's negative 23,000 payroll reading.