All three major stock indexes rose Friday, with the S&P 500 and Nasdaq capping their best week since April after a weak jobs report eased fears of a September rate hike. The U.S. economy lost 23,000 jobs in July, far below the estimated 83,000 gain, while steep downward revisions wiped out 103,000 jobs in May and June.

Interest-rate futures now show a 58% chance the Fed stays on hold at its next meeting and a 42% chance of a hike, according to CME Group data. "This is a soft report that I think takes some of the hike rhetoric off the table," said Michael Hans, chief investment officer at Citizens Wealth.

The S&P 500 gained 0.6% to its 26th all-time high of the year, the Dow Jones added 0.3%, and the Nasdaq rose 1.3%. Treasury yields fell, with the 2-year note slipping to 4.203% and the 10-year yield declining to 4.657%.