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Wall Street Hits Records as July Payrolls Shrink

The S&P 500, Dow and Nasdaq closed at records on August 7, 2026, after the US economy unexpectedly shed 23,000 jobs in July, boosting Fed rate-cut expectations. AMD acquired Taalas, CSPC and AstraZeneca formed a biologics venture, and the FDA approved Replimune's melanoma drug.