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US stocks rise amid rate hike concerns
The U.S. stock markets rose significantly, as traders interpreted the surprising decline in July employment figures as a sign that the Federal Reserve may not raise interest rates soon, leading to a stabilization of monetary policy. The S&P 500 gained 0.6%, and the Nasdaq Composite successfully advanced by 1.3%, along with the Dow Jones Industrial Average rising by 151 points, or 0.3%. The indices recorded their best weekly performance since April, with increases of over 3% for the S&P 500 and 5% for the Nasdaq, driven by a rebound in semiconductor stocks. The non-farm payrolls report for July showed an increase of only 23,000 jobs, well below expectations of an 83,000 gain, while the unemployment rate fell to 4.1%. Traders expect interest rates to remain steady at the upcoming central bank meeting in September, after earlier predictions had indicated a possibility of a quarter-point hike.
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