Nasdaq rises, Dow slips as weak July jobs report cools Fed rate bets

invezz.com (Swedish)

US stocks were mixed Friday after weak July jobs data cut Fed rate-hike expectations for September; Dow slipped while Nasdaq gained over 1%. The economy unexpectedly lost 23,000 jobs in July versus forecasts of 80,000 growth. Unemployment fell to 4.1% and annual wage growth missed expectations. Traders lowered the probability of a September hike to about 20% from 55%. Semiconductor and software stocks rallied after strong earnings, including Atlassian, Microchip Technology, and Cloudflare. Meanwhile, new US tariffs on polysilicon boosted solar shares, and Mideast tensions kept oil markets in focus.


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