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US stocks climb for second week
U.S. stocks rose significantly, with traders interpreting the decline in jobs in July as giving the Federal Reserve a basis to maintain current interest rates and refrain from raising them for now. The S&P 500 index has increased by more than 3% since the beginning of the week, while the Nasdaq posted its strongest weekly performance since April, rising over 4%, supported by a rebound in semiconductor shares. The key figures include a decrease of 23,000 non-farm jobs, contrasting with expectations of an 83,000 job increase, and the unemployment rate dropping to 4.1%. Investors now anticipate the Federal Reserve will hold interest rates steady between 3.50% and 3.75% at its upcoming meeting, with technology stocks and the semiconductor sector performing strongly. Meanwhile, oil prices stabilized around $77-$82 after reports of a potential agreement between the United States and Iran regarding the Strait of Hormuz.
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