Skip to content
Subscriber Only

Stocks, Treasury Yields Rise on Robust Jobs Report: Markets Wrap

  • S&P 500 tops record high as U.S. payrolls exceed estimates
  • Dollar strengthens while gold and crude oil prices decline
Daily Life in Tokyo as Virus Cases Leap to New Record Amid Olympics
Photographer: Noriko Hayashi/Bloomberg
Updated on

U.S. equities rose on Friday after a better-than-expected increase in U.S. payrolls fueled expectations that the Federal Reserve is moving closer to a pullback of stimulus.

The S&P 500 climbed to a record, led by financials and materials, while the technology-heavy Nasdaq 100 fell. U.S. job growth accelerated in July by the most in almost a year and the unemployment rate declined, illustrating momentum in the labor market as it grapples with hiring challenges.