US markets opened higher on Friday after July payrolls came in far below expectations, with job losses of 23,000 versus forecasts for a gain of 80,000 to 95,000. The Nasdaq 100 surged 1.16%, the S&P 500 climbed 0.53% and the Dow added 0.31%. Weak labor data reduces pressure on the Federal Reserve to continue tightening monetary policy, with rates currently in the 3.50% to 3.75% range. The unemployment rate edged lower to 4.1% from 4.2% in June, partly due to declining labor force participation.
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