The S&P 500 increased on Friday as traders viewed an unexpected jobs loss in July as a sign that the Federal Reserve may not need to raise interest rates soon, allowing monetary policy to remain unchanged for now.
The broad market index rose 0.6%, while the Nasdaq Composite performed even better, climbing 1.3%. The Dow Jones Industrial Average gained 151 points, or 0.3%.
Stocks marked a second consecutive week of gains.
The S&P 500, which recently closed above 7,700 for the first time, has increased over 3% so far this week.
The Nasdaq experienced a 5% rise, fueled by a rebound in chip stocks.
Source (CNBC)
