US stocks: S&P closes at record high as soft jobs report eases rate-hike concerns

The US stock market enjoyed a significant boost on Friday as the S&P closed at an all-time high. The unexpected rise in job losses led to reduced expectations for a Federal Reserve interest rate hike in September. Strong earnings from corporations further propelled market indices upward. Meanwhile, a dip in oil prices, influenced by advancing peace talks, helped to soothe inflation fears.