US Stocks Surge as Unexpected Jobs Report Raises Hopes for Delayed Rate Hikes

The US stock market saw significant gains on Friday, following an unexpected jobs report from the government. Employers cut 23,000 jobs last month, contrary to expectations of a rise in hiring.

This development has raised hopes that interest rate hikes may be delayed by the Federal Reserve. The S&P 500 index rose 47.68 points or 0.6% to 7,757.64, surpassing its all-time high from Tuesday.

The Dow Jones Industrial Average also increased, but fell short of setting a new record. Technology stocks, including Nvidia and Broadcom, drove the market's upward momentum.