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July's job losses convinced traders the Fed is done raising rates, and stocks rallied

The U.S. economy shed 23,000 jobs in July, far below forecasts of an 83,000 gain, shifting trader expectations away from a September rate hike

Renovation work continues on the Marriner S. Eccles Federal Reserve Board Building, the main offices of the Board of Governors of the Federal Reserve System on December 9, 2025 in Washington, DC. (Andrew Harnik/Getty Images)

U.S. stocks climbed Friday after a weaker-than-expected July jobs report led traders to pull back their bets on a Federal Reserve interest rate increase next month. The S&P 500 advanced 0.3%, the Nasdaq $NDAQ Composite climbed 0.9%, and the Dow Jones Industrial Average finished up 67 points, or 0.1%.

The economy........

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