TheStreet Live

U.S. stocks rose Tuesday, shrugging off a 1 percent decline in oil prices.

The Labor Department will release job growth and the unemployment rate for August. Economists expect 180,000 jobs added last month and for the unemployment rate to tick lower to 4.8%. Some economists and investors have called today's report the most important jobs report ever as it has huge implications for both interest rates and the election. Crude oil prices are set for their worst week since early January. A stubborn oversupply of oil, a strong U.S. dollar and comments from oil ministers that OPEC won't cut production have sent oil prices down around 9% so far this week. OPEC meets later this month. Samsung is recalling its new Galaxy Note 7 smartphone worldwide. There have been reports the device catches fire while charging. The phone was just released a month ago and had gotten mostly great reviews. Samsung says it will replace all 2.5 million Galaxy Note 7s. Factory orders for July are due today. The U.S. stock markets are closed Monday for Labor Day.

A weaker jobs report brought slight relief over diminished chances of a September rate hike. The higher likelihood of accommodative rates for longer pushed benchmark indexes to clock modest gains for the session and week.

Will it be a September to remember for stocks? Typically, September is the worst month for stocks. Marketwatch reports that losses in the month average 1.1% since the 1890's. August was a down month for the Dow Jones Industrial Average and S & P 500 but the NASDAQ did pull out a small gain. Salesforce ( ) issued a disappointing outlook. CEO Marc Benioff says the company saw softness in the quarter but expects things to pick up through the end of the year. Salesforce has also made recent acquisitions that it is still digesting. Apple ( ) CEO Tim Cook is responding to the European Union decision that it owes billions in back taxes to Ireland. Cook called the ruling 'maddening' and 'total political crap'. He told Irish broadcaster RTE that Apple was not given preferential tax breaks in Ireland.

Stock losses accelerated throughout the morning after a reading on manufacturing activity in the U.S. fell into contraction in August. A strong U.S. dollar and weak global demand have impeded manufacturing growth for months. Costco fell after reporting a flat reading on comparable-store sales for August and the recent quarter. The warehouse chain is just the latest retailer to suffer from less foot traffic and increased e-commerce spending. Infoblox climbed after narrowly beating profit and sales estimates over its recent quarter. The cybersecurity firm rallied a day earlier on reports it has begun the process of selling itself after activist pressure. Walgreens was added to Credit Suisse's Focus list. Analysts said its Rite Aid

U.S. stocks

Republican presidential candidate Donald Trump will head to Mexico today ahead of highly anticipated speech focused on immigration. His visit comes after Mexican president Enrique Pena Nieto invited both major party candidates to visit the nation. Democrat nominee Hillary Clinton has yet to respond. H&R Block ( ) had a wider loss in the recent quarter. The tax preparer says it saw fewer customers in the United States. It said it continues to cut expenses and make other changes to turn things around. It says it will not do its annual December tax season preview this year. Several parts of the United States are seeing severe weather over Labor Day weekend that could impact tourism. Back to back hurricanes are barreling toward Hawaii. Meanwhile, North Carolina's outer banks will be hit with a drenching tropical storm system that could dump up to 5 inches of rain. A hurricane watch has been issued for parts of Florida's Gulf Coast.

Stocks ended August on a dour note as crude oil endured another selloff. A larger-than-expected weekly build in crude inventories pulled oil to close at a nearly three-week low.

Stocks fell as speculation over interest rates hikes continued. The chances of a September rate hike has increased since Federal Reserve Chair Yellen took a hawkish turn in a speech on Friday.

U.S. stocks moved slightly lower early Wednesday, despite a better-than-expected reading on private payrolls.