Updated from 10:08 a.m. ET

Stocks held higher on Friday, Aug. 4, after a reading on the U.S. labor market showed higher job additions in July but in-line wage growth. 

The Dow Jones Industrial Average rose 0.07%, trading above its previous record close. The blue-chip index was on track to close with its eighth straight record and ninth day in the green. The Dow last saw nine straight days of gains through to July 20. The S&P 500 rose 0.11%, and the Nasdaq gained 0.13%.

The U.S. economy added more jobs than anticipated in July. Nonfarm payrolls rose by 209,000 last month, according to the Labor Department, above consensus of 180,000. The June jobs number was revised to 231,000 from 222,000, though the May figure was cut to 145,000 from 152,000. 

The unemployment rate decreased by 10 basis points to 4.3%, as expected, matching the 16-year low reached in May. Average hourly earnings increased 0.3% month over month, in-line with estimates, and were up 2.5% over the past 12 months. 

"This should keep the chances of a December rate rise alive," Aberdeen Asset Management Investment Strategist Luke Bartholomew said in a note. "The next rate rise really boils down to whether inflation picks up and this requires stronger wage growth. While far from spectacular, especially given the further fall in unemployment, today's wage numbers are just about enough for now."

The Fed left the federal funds rate at 1% to 1.25% at its meeting in July. Another rate hike isn't expected until at least December. Chances of a year-end increase are at 47%, according to CME Group fed funds futures. Chances had been 42% following the Fed's meeting on July 26.

The Dow's barely-there gains on Thursday, Aug. 3, were enough for the blue-chip index to secure a record close for its seventh day in a row. The Dow was up 0.04% to 22,026. Any gain would have put the index at records. The seven-day streak matches a similar streak seen from Feb. 9-17.

GoPro Inc. (GPRO)  issued an upbeat outlook for its third quarter and the stock jumped 18%. The action camera maker expects a net loss of 6 cents to a profit of 5 cents a share over its third quarter, better than an anticipated loss of 12 cents a share. Third-quarter revenue estimates of $290 million to $310 million also came in above $278.5 million consensus. 

Automatic Data Processing Inc. (ADP)   slipped on Friday after the company confirmed interest from Bill Ackman's Pershing Square. Activist investor Pershing is reportedly seeking control of the company by way of five board seats and a change in chief executive leadership. ADP has said Pershing's requests are not in the company's best interests and that it has a "strong and independent board."

Weight Watchers International Inc. (WTW)  rocketed 26% higher after posting growth in earnings and revenue over its second quarter. The weight loss company earned 67 cents a share, higher than 46 cents a share in the year-ago quarter, while revenue increased 10% to $341.7 million. Analysts anticipated earnings of 51 cents a share on $334 million in revenue. 

Shake Shack Inc. (SHAK) moved lower Friday after guiding for a weaker 2017 than anticipated. The burger chain estimates full-year sales no higher than $355 million, below an expected $356.7 million. Shake Shack guides for full-year same-store sales to contract by 2% to 3%, surprising analysts looking for a 0.3% increase. 

Yelp Inc. (YELP)  rocketed 26% higher after a better-than-expected quarter and after selling its Eat24 delivery service to GrubHub Inc. (GRUB) for $287.5 million, roughly double the price it paid around two years ago. The online-ratings business also reported second-quarter net income of 9 cents a share, higher than one cent a share a year earlier. Analysts anticipated earnings of 8 cents a share. Revenue of $208.9 million exceeded estimates of $205 million. 

Kraft Heinz Co. (KHC)  reported a mixed quarter in which it beat on the bottom-line but missed on the top. Net income rose to 94 cents a share from 63 cents in the year-ago quarter. Adjusted earnings of 98 cents a share exceeded estimates of 85 cents. Revenue of $6.68 billion missed consensus of $6.73 billion. The company's board bumped up its quarterly dividend to 62.5 cents a share, up form 60 cents. 

Cigna Corp. (CI)   declined slightly after topping earnings and revenue estimates over its second quarter. Net income of $3.15 a share rose from $1.97 a year earlier. Adjusted profit of $2.91 a share exceeded analysts' target of $2.48. Revenue of $10.32 billion came in higher than $9.02 billion consensus. For the full year, Cigna anticipates adjusted earnings of $9.75 to $10.05 a share and 3% to 4% sales growth.  

Crude oil prices were slightly higher ahead of weekly drilling activity data to be released Friday afternoon. A weekly count on active oil rigs drilling for crude in the U.S. will be released by Baker Hughes at 1 p.m.

West Texas Intermediate was 0.1% to $49.08 a barrel on Friday morning.

The U.S. trade deficit decreased by 5.9% in June to $43.6 billion. Exports increased 1.2% to $194.4 billion, while imports slipped by 0.2% to $238 billion.

Toyota Motor Co. ( TM) plans to take a stake in rival Mazda Motor Corp. ( MZDAY) and the Japanese automakers said they will jointly invest in a new U.S. production plant that could create 4,000 new jobs. The $1.6 billion facility, when completed in 2021, will be capable of producing as many as 300,000 cars a year, the companies said. Toyota's plant in Georgetown, Ky., has the capacity to make 550,000 cars a year. 

The world's second-largest carmaker also posted better-than-expected first-quarter earnings on Friday and raised its fiscal full-year outlook for profit and revenue. Net profit in the first quarter rose 11% as global sales jumped in the period. Toyota said it sold 2.2 million vehicles during the quarter, an improvement of 42,000 from a year earlier. 

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