Stocks Climb at Midday as Weak Payrolls Ease Rate-Hike Odds; Gold Jumps
Hyperdash NewsMacroUS stocks traded higher through midday Wednesday after an unexpectedly weak July payrolls report eased expectations for further rate hikes. The S&P 500 rose +0.64% and the Nasdaq gained +1.32%, while the dollar slipped and Treasury yields eased as traders repriced the path of policy.
Scoreboard
- S&P 500 7,759 (+0.64%)
- Euro Stoxx 50 6,528 (+0.40%)
- Nikkei 225 65,607 (-0.12%)
- Gold 4,409 (+2.55%)
- WTI 78.04 (+0.97%)
- US 10Y 4.651% (-2bp)
- DXY 99.5830 (-0.35%)
- Bitcoin 64,952 (+0.28%)
- VIX 14.92 (-1.52%)
- DE 10Y 3.131% (+0bp)
The morning's main driver was payrolls, which unexpectedly fell in July against forecasts for a gain, sending traders to trim the odds of another rate hike. The dollar fell, with the DXY down -0.35%, and the US 10-year yield eased -2bp. Gold jumped +2.55% as yields and the dollar retreated. Gains were capped by reports that Russian President Vladimir Putin updated the country's nuclear doctrine, which pressured stock futures and weighed on bond yields earlier. Crude rose, with WTI up +0.97% and Brent up +1.14%. Bitcoin edged up +0.28%.
Key headlines
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The takeaway
The rally rests on a single data point: a payrolls report that showed employment unexpectedly contracting in July. That reading did the work in repricing rate-hike odds, and it left equities exposed to any afternoon headlines, such as the reports on Russia's nuclear doctrine, that could reverse the morning's tone.
Traders will watch whether the payrolls-driven repricing holds through the afternoon and how equities absorb further headlines on Russia's updated nuclear doctrine, which pressured futures earlier. Moves in Treasury yields and the dollar will signal whether the market's read on the rate path sticks into the close.
View the S&P 500 chart and data on Hyperdash
Frequently asked questions: August 7, 2026
What happened in the markets today?
US stocks traded higher at midday after a weaker-than-expected July payrolls report eased rate-hike expectations, with the S&P 500 up +0.64% and the Nasdaq up +1.32%. Gold jumped +2.55% as the dollar and Treasury yields eased.
Did the stock market go up or down today?
Stocks were up at midday. The S&P 500 rose +0.64% to 7,759 and the Nasdaq gained +1.32% to 26,695.
Why did markets move today?
July payrolls unexpectedly fell against forecasts for a gain, easing expectations of further rate hikes and lifting stocks. Gains were capped by reports that Russia updated its nuclear doctrine, which pressured stock futures and bond yields earlier.
How did the S&P 500 do today?
The S&P 500 rose +0.64% to 7,759 by midday, supported by the soft payrolls print, falling Treasury yields and a weaker dollar.
What did the dollar and Treasury yields do today?
The dollar fell, with the DXY down -0.35% to 99.5830, and the US 10-year yield eased -2bp to 4.651% as traders lowered rate-hike expectations after the weak payrolls report.
Where can I track live market data across asset classes?
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