Stock Market Ends Week on Positive Note as Weak Jobs Report Reduces Rate Hike Fears

The stock market ended the week on a positive note, with major indices closing higher on Friday.

The S&P 500 Index rose by 0.62%, the Dow Jones Industrial Average gained 0.28%, and the Nasdaq 100 Index surged by 1.19%.

One reason for this uptick was a weak jobs report, which reduced the likelihood of a Fed rate hike at next month's FOMC meeting to 44% from 58% before the report.

The July nonfarm payrolls unexpectedly fell by -23,000, weaker than expectations of an +80,000 increase and the first decline in five months.