Wall Street reached all-time highs on August 7, 2026. July nonfarm payrolls fell by 23,000, far below the expected gain of 80,000 to 83,000, leading markets to anticipate an easing of the Federal Reserve’s monetary policy. The S&P 500 closed at 4,703.68 (+0.62%), the Nasdaq at 16,073.69 (+1.3%), and the Dow Jones at 35,737.33 (+0.28%). The probability of a Fed rate hike in September dropped from 55% to approximately 42% following the report. Prior month revisions, which cumulatively reduced May and June payrolls by 103,000 jobs, add further complexity to interpreting the labor market trajectory.
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