# S&P 500 hits record as weak jobs data cools rate-hike fears

2026-08-07T20:54:26+00:00 | World & Diplomacy | Indian Opinion Desk

Corroboration: 1 independent outlet

The US economy unexpectedly lost 23,000 jobs in July, well below the 80,000 gain expected, according to the Labour Department. This lowered market expectations of a Federal Reserve rate hike in September to 44%, down from 67% a week ago. The S&P 500 closed at a record high on Friday, and all three major indexes posted their biggest weekly gains since April. Strong corporate earnings, with 85% of S&P 500 companies beating estimates, also boosted sentiment. However, economist Tom Siomades noted the paradox of weak jobs and potential inflation, saying the market's rally defies logic.

## Coverage

- livemint.com <https://www.livemint.com/market/equities-poised-for-best-week-since-april-as-payrolls-surprise-eases-rate-hike-concerns-11786127839882.html>
- economictimes.indiatimes.com <https://economictimes.indiatimes.com/markets/us-stocks/news/us-stocks-sp-closes-at-record-high-as-soft-jobs-report-eases-rate-hike-concerns/articleshow/133041941.cms>

Tags: Federal Reserve, jobs data, market rally, nonfarm payrolls, US stocks
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