S&P 500 closes at record high as employers cut 23,000 jobs

The S&P 500 closed at a record high after a weaker-than-expected U.S. jobs report showed employers cut 23,000 positions last month, easing pressure on the Federal Reserve to raise rates soon. The index rose 0.6% to 7,757.64, extending a second straight week of gains and adding to the year’s record-setting run. Tech megacaps helped lead the advance, with Nvidia and Broadcom both higher. The softer labor data lifted sentiment across equities while bond markets reacted to the increased likelihood of a more cautious Fed stance. The article also highlights the backdrop of AI-related strength in large-cap tech and a separate corporate story: London-based Nscale is pursuing a New York IPO, underscoring continued pressure on London listings and the appeal of U.S. markets for AI infrastructure firms.