U.S. stocks jump as employers cut 23,000 jobs

U.S. stocks jumped Friday and Treasury yields fell after a government report showed employers unexpectedly cut 23,000 jobs, with the S&P 500 hovering near its record. The S&P 500 rose 0.5% and Nasdaq 1%; Dow rose 0.2%. Big technology stocks led. Weaker job growth may give the Federal Reserve room to avoid raising rates. Payroll figures for May and June were revised down by 103,000. The Fed has held rates amid inflation from oil prices tied to the U.S.-Iran war. Next week's consumer price index will likely decide any move. Wall Street still expects strong quarterly earnings growth.