US Stock Market Opens Higher Amid Weaker Jobs Report
The US stock market opened higher on August 7, 2026, despite a weaker-than-expected jobs report. The Dow Jones Industrial Average edged up by 0.1%, while the S&P 500 gained 0.3%. The Nasdaq Composite rose 0.8% after a mixed day in markets.
The July jobs report revealed an unexpected decline of 23,000 in U.S. nonfarm payrolls, missing economists' forecasts of 80,000 new jobs. However, the unemployment rate decreased to 4.1% from 4.2%. West Texas Intermediate futures for September delivery were up 0.8% at $77.91, while Brent crude rose 1.1% to $83.40.
Gold prices surged on August 7, with spot gold quoted near $4,335 per ounce at 10:03 a.m. New York time, up about $99 or 2.35% on the day. According to UBS chief investment officer Ulrike Hoffmann-Burchardi and her team, 'gold's rally has support,' and they expect gold prices to rise toward USD 5,000/oz in the first half of 2027.