US stocks: S&P closes at record high as soft jobs report eases rate-hike concerns
The US stock market closed at a record high, with the S&P index reaching a new peak. This surge is largely due to a softer-than-expected jobs report, which reduced concerns about the Federal Reserve raising interest rates in September. A lower interest rate hike would mean less pressure on consumers and businesses, potentially leading to increased economic growth and further boosting the stock market.
Read the source report: Economic Times
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