Story perspectives

S&P 500 Hits Record as Payrolls Slip, Bitcoin Gains

8/9/2026

Summary

Story summary

The S&P 500 closed at a record 7,757.64 on August 7, 2026, rallying after weak payroll data.
July nonfarm payrolls fell 23,000 jobs, pushing unemployment to 4.1% and lowering Fed hike odds to about 44% from 67%.
Bitcoin rose to $65,340 on Bitstamp, up 1.3%, as crypto assets gained on the softer jobs data.
Foreign institutional investors bought INR480.24 crore while domestic investors purchased INR235.56 crore in India.
The GIFT Nifty traded near 24,700.

History

Historical Context

In September 2008 the Lehman Brothers collapse triggered a 9% S&P 500 plunge, a Fed rate cut to 0.25% and a $700 billion Treasury stimulus (TARP). Those emergency measures anchored low rates that fueled a 17-year bull market, allowing the S&P 500 to hit a record 7,757.64 on August 7 2026. Softness in the labor market, with unemployment at 4.1%, helped attract INR480.24 crore of foreign capital into India.

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Story summary

The S&P 500 closed at a record 7,757.64 on August 7, 2026, rallying after weak payroll data.
July nonfarm payrolls fell 23,000 jobs, pushing unemployment to 4.1% and lowering Fed hike odds to about 44% from 67%.
Bitcoin rose to $65,340 on Bitstamp, up 1.3%, as crypto assets gained on the softer jobs data.
Foreign institutional investors bought INR480.24 crore while domestic investors purchased INR235.56 crore in India.
The GIFT Nifty traded near 24,700.

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