Soft US jobs report sends S&P 500 to record high

US stocks rose Friday, with the S&P 500 closing at a record high after weak July jobs data eased concerns about a Federal Reserve rate hike. Nonfarm payrolls fell by 23,000 in July, far below the expected 80,000 gain. Prior months were revised lower, and unemployment slipped to 4.1 percent as workers left the labor force. Market odds of a September Fed hike fell to about 44 percent. A strong earnings season, with 85 percent of S&P 500 companies beating forecasts, supported gains, while cooling oil prices on Iran peace hopes eased inflation worries.