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U.S. stocks rise in Friday morning trading; all three major indexes head for weekly gains

2026-08-09·newswire-us-stock-045002
U.S. stocks rise in Friday morning trading; all three major indexes head for weekly gains.

U.S. stocks rose in Friday morning trading, putting all three major indexes on track for weekly gains. The unexpectedly weak July jobs report led traders to expect the data would prompt the Federal Reserve to leave interest rates unchanged. Shares rose 7% after the vacation-rental company reported revenue and profit that exceeded expectations.

Cloudflare shares surged 16% after the cloud cybersecurity company issued solid guidance for the full year and the current quarter. Oil prices edged lower Friday. West Texas Intermediate crude futures for September delivery fell 0.6% to $76.85 a barrel, while the international benchmark Brent crude contract declined 0.7% to $81.90 a barrel.

Wall Street indexes closed lower in the previous session as rising oil prices pressured stocks. The index fell more than 460 points, or 0.9%, ending a five-session winning streak. The S&P 500 fell 0.2%, while the Composite edged down 0.1%. Stocks were still on track for a second straight weekly gain.

Driven by a rebound in chip stocks, the Nasdaq could post its best weekly performance since May. The iShares Semiconductor ETF (SOXX) was up more than 5% for the week. Despite the pullback in U.S. markets, the outlook held by many on Wall Street improved during the week.

Investors hoped that an eventual agreement allowing passage through the Strait of Hormuz would lower oil prices and curb inflation expectations. Technology stocks stood out, with semiconductor shares rebounding after the unwinding of momentum trades last month led many to believe that the market had secured the correction needed for another move higher.

Strong earnings performance further bolstered recent confidence. “There’s going to be a chase higher,” Tom Lee, head of research at Fundstrat Global Advisors, said Thursday. “I think that chase higher takes the indexes to 7,900, 8,000 this month.” U.S. nonfarm payrolls unexpectedly fell by 23,000 in July, while the unemployment rate declined to 4.1%.

The U.S. Bureau of Labor Statistics said Friday in a report showing a slowing labor market that employment in the U.S. economy unexpectedly declined in July, while the unemployment rate edged lower. On a seasonally adjusted basis, nonfarm payrolls fell by 23,000 in July, while the June figure was revised to a decline of 20,000.

The consensus estimate in a Dow Jones survey had called for an increase of 83,000. The unemployment rate edged down to 4.1%, while the labor-force participation rate fell further to 61.4%, its lowest level in more than five years.

In addition to the weak May and June data, the final May figure was revised down to 63,000, a reduction of 66,000 from the previous estimate. After the revisions, the 12-month average monthly job gain fell to just 34,000.

The decline in employment was primarily driven by a reduction of 50,000 jobs in local government education and a decline of 19,000 in retail. Financial activities also shed 14,000 jobs. Health care, previously a major source of job growth, added 22,000 jobs, below its 12-month average of 36,000.

As job growth stagnated, workers’ pay barely increased this month. Average hourly earnings rose by just 2 cents, bringing the 12-month average increase down to 3.2%, below the market expectation of 3.5% growth. The report came as Federal Reserve policymakers remained divided over the path of interest rates in the current economic environment.

The labor market has improved from its weak 2025 performance, while inflation remains well above the central bank’s 2% target. In recent days, several Fed officials have said they would support a rate hike as early as September if the pace of price increases does not slow.

The Federal Open Market Committee voted 9-3 last week to leave its benchmark interest rate unchanged. After the jobs report was released, traders adjusted their bets on when the Fed would raise rates.

According to the CME FedWatch futures-pricing gauge, the probability of a September rate hike fell to 44%, while the probability of an October hike fell to 58.3%.

#Stocks #Semiconductors #Fed #Oil #Earnings

Full text

U.S. stocks rise in Friday morning trading; all three major indexes head for weekly gains

U.S. stocks rose in Friday morning trading, putting all three major indexes on track for weekly gains. The unexpectedly weak July jobs report led traders to expect the data would prompt the Federal Reserve to leave interest rates unchanged. Shares rose 7% after the vacation-rental company reported revenue and profit that exceeded expectations. Cloudflare shares surged 16% after the cloud cybersecurity company issued solid guidance for the full year and the current quarter. Oil prices edged lower Friday. West Texas Intermediate crude futures for September delivery fell 0.6% to $76.85 a barrel, while the international benchmark Brent crude contract declined 0.7% to $81.90 a barrel. Wall Street indexes closed lower in the previous session as rising oil prices pressured stocks. The index fell more than 460 points, or 0.9%, ending a five-session winning streak. The S&P 500 fell 0.2%, while the Composite edged down 0.1%. Stocks were still on track for a second straight weekly gain. Driven by a rebound in chip stocks, the Nasdaq could post its best weekly performance since May. The iShares Semiconductor ETF (SOXX) was up more than 5% for the week. Despite the pullback in U.S. markets, the outlook held by many on Wall Street improved during the week. Investors hoped that an eventual agreement allowing passage through the Strait of Hormuz would lower oil prices and curb inflation expectations. Technology stocks stood out, with semiconductor shares rebounding after the unwinding of momentum trades last month led many to believe that the market had secured the correction needed for another move higher. Strong earnings performance further bolstered recent confidence. “There’s going to be a chase higher,” Tom Lee, head of research at Fundstrat Global Advisors, said Thursday. “I think that chase higher takes the indexes to 7,900, 8,000 this month.” U.S. nonfarm payrolls unexpectedly fell by 23,000 in July, while the unemployment rate declined to 4.1%. The U.S. Bureau of Labor Statistics said Friday in a report showing a slowing labor market that employment in the U.S. economy unexpectedly declined in July, while the unemployment rate edged lower. On a seasonally adjusted basis, nonfarm payrolls fell by 23,000 in July, while the June figure was revised to a decline of 20,000. The consensus estimate in a Dow Jones survey had called for an increase of 83,000. The unemployment rate edged down to 4.1%, while the labor-force participation rate fell further to 61.4%, its lowest level in more than five years. In addition to the weak May and June data, the final May figure was revised down to 63,000, a reduction of 66,000 from the previous estimate. After the revisions, the 12-month average monthly job gain fell to just 34,000. The decline in employment was primarily driven by a reduction of 50,000 jobs in local government education and a decline of 19,000 in retail. Financial activities also shed 14,000 jobs. Health care, previously a major source of job growth, added 22,000 jobs, below its 12-month average of 36,000. As job growth stagnated, workers’ pay barely increased this month. Average hourly earnings rose by just 2 cents, bringing the 12-month average increase down to 3.2%, below the market expectation of 3.5% growth. The report came as Federal Reserve policymakers remained divided over the path of interest rates in the current economic environment. The labor market has improved from its weak 2025 performance, while inflation remains well above the central bank’s 2% target. In recent days, several Fed officials have said they would support a rate hike as early as September if the pace of price increases does not slow. The Federal Open Market Committee voted 9-3 last week to leave its benchmark interest rate unchanged. After the jobs report was released, traders adjusted their bets on when the Fed would raise rates. According to the CME FedWatch futures-pricing gauge, the probability of a September rate hike fell to 44%, while the probability of an October hike fell to 58.3%.

U.S. stocks rose in Friday morning trading, putting all three major indexes on track for weekly gains. The unexpectedly weak July jobs report led traders to expect the data would prompt the Federal Reserve to leave interest rates unchanged.

Shares rose 7% after the vacation-rental company reported revenue and profit that exceeded expectations. Cloudflare shares surged 16% after the cloud cybersecurity company issued solid guidance for the full year and the current quarter.

Oil prices edged lower Friday. West Texas Intermediate crude futures for September delivery fell 0.6% to $76.85 a barrel, while the international benchmark Brent crude contract declined 0.7% to $81.90 a barrel.

Wall Street indexes closed lower in the previous session as rising oil prices pressured stocks. The index fell more than 460 points, or 0.9%, ending a five-session winning streak. The S&P 500 fell 0.2%, while the Composite edged down 0.1%.

Stocks were still on track for a second straight weekly gain. Driven by a rebound in chip stocks, the Nasdaq could post its best weekly performance since May. The iShares Semiconductor ETF (SOXX) was up more than 5% for the week.

Despite the pullback in U.S. markets, the outlook held by many on Wall Street improved during the week. Investors hoped that an eventual agreement allowing passage through the Strait of Hormuz would lower oil prices and curb inflation expectations.

Technology stocks stood out, with semiconductor shares rebounding after the unwinding of momentum trades last month led many to believe that the market had secured the correction needed for another move higher. Strong earnings performance further bolstered recent confidence.

“There’s going to be a chase higher,” Tom Lee, head of research at Fundstrat Global Advisors, said Thursday. “I think that chase higher takes the indexes to 7,900, 8,000 this month.”

U.S. nonfarm payrolls unexpectedly fell by 23,000 in July, while the unemployment rate declined to 4.1%.

The U.S. Bureau of Labor Statistics said Friday in a report showing a slowing labor market that employment in the U.S. economy unexpectedly declined in July, while the unemployment rate edged lower.

On a seasonally adjusted basis, nonfarm payrolls fell by 23,000 in July, while the June figure was revised to a decline of 20,000. The consensus estimate in a Dow Jones survey had called for an increase of 83,000.

The unemployment rate edged down to 4.1%, while the labor-force participation rate fell further to 61.4%, its lowest level in more than five years.

In addition to the weak May and June data, the final May figure was revised down to 63,000, a reduction of 66,000 from the previous estimate. After the revisions, the 12-month average monthly job gain fell to just 34,000.

The decline in employment was primarily driven by a reduction of 50,000 jobs in local government education and a decline of 19,000 in retail. Financial activities also shed 14,000 jobs.

Health care, previously a major source of job growth, added 22,000 jobs, below its 12-month average of 36,000.

As job growth stagnated, workers’ pay barely increased this month. Average hourly earnings rose by just 2 cents, bringing the 12-month average increase down to 3.2%, below the market expectation of 3.5% growth.

The report came as Federal Reserve policymakers remained divided over the path of interest rates in the current economic environment. The labor market has improved from its weak 2025 performance, while inflation remains well above the central bank’s 2% target.

In recent days, several Fed officials have said they would support a rate hike as early as September if the pace of price increases does not slow. The Federal Open Market Committee voted 9-3 last week to leave its benchmark interest rate unchanged.

After the jobs report was released, traders adjusted their bets on when the Fed would raise rates. According to the CME FedWatch futures-pricing gauge, the probability of a September rate hike fell to 44%, while the probability of an October hike fell to 58.3%.

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