Weak US jobs data lift Wall Street and S&P 500 to a record

Weak US jobs data fueled hopes of a Federal Reserve pause, driving Wall Street gains and lifting the S&P 500 to a record close Friday. July nonfarm payrolls fell by 23,000, versus forecasts for 80,000 new jobs. The chance of a September rate hike under Chair Kevin Warsh dropped to 44% from 67%. The Dow rose 0.3%, Nasdaq 1.3%. Strong corporate earnings, hopes for an Iran peace deal, and lower oil prices supported sentiment. SpaceX jumped 16%, recovering after its lock-up expiry; Trade Desk fell 22% on weak outlook.