US stocks rise as weak jobs data boosts Fed pause hopes

US stocks rose on Friday after weak July jobs data fueled hopes the Federal Reserve will hold off on further interest rate hikes. The S&P 500 gained 0.6 percent to a new record, the Dow rose 0.3 percent, and the Nasdaq climbed 1.3 percent. Non-farm payrolls fell by 23,000 in July, far weaker than expected, potentially influencing Fed members to postpone rate increases. The dollar traded at 9.48 Swedish kronor. The unexpectedly weak employment figures signal a cooling labor market, strengthening expectations that the central bank will keep its policy stance supportive.