US Stocks Open Higher as S&P and Nasdaq Rebound on Soft Jobs Data Easing Rate Hike Fears
Macro
The S&P 500 and Nasdaq Composite opened higher on the 7th, rebounding in the US stock market. The unexpected decline of 23,000 in July nonfarm payrolls, along with a sharp downward revision of June's figure from a gain of 57,000 to a gain of 20,000, eased expectations for a Federal Reserve rate hike in September. At the open, the S&P 500 was up 0.33% and the Nasdaq was up 0.71%. Meanwhile, the Dow Jones Industrial Average slipped 0.07%. The unemployment rate fell to 4.1%.
