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Stocks jumped on Friday following a stronger-than-expected employment report and dovish sentiment from Fed Chair Jay Powell. 

The Dow Jones Industrial Average closed up 749 points, or 3.29%, while the S&P 500 and Nasdaq gained 3.43% and 3.38%, respectively.

As would be expected, bond yields also rose. The 2-year rose to 2.4% from 2.3% and the 10-year yield climbed to 2.6% from 2.5%, or 10 basis points each. 

Wall Street rallies after strong jobs report

Stocks finish volatile first week of 2019 in the green.

Traders look at a computer on the floor of the new york stock exchange

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Wall Street

<p>Stocks jumped on Friday following a stronger-than-expected <a class="gtmContentClick" data-vars-link-text="employment report" data-vars-click-url="https://www.axios.com/us-unemployment-jobs-number-december-2018-d2069189-088c-46f0-ae53-75e503308ba8.html" data-vars-content-id="d67f3c18-ef04-4f1c-9d74-1c9935def940" data-vars-headline="Wall Street rallies after strong jobs report" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/us-unemployment-jobs-number-december-2018-d2069189-088c-46f0-ae53-75e503308ba8.html" target="_self">employment report</a> and dovish sentiment from Fed Chair Jay Powell. </p><ul><li>The Dow Jones Industrial Average closed up 749 points, or 3.29%, while the S&amp;P 500 and Nasdaq gained 3.43% and 3.38%, respectively.</li><li>As would be expected, bond yields also rose. The 2-year rose to 2.4% from 2.3% and the 10-year yield climbed to 2.6% from 2.5%, or 10 basis points each. </li></ul><span data-ad-status="NO_AD_LENGTH" data-ad-type="midStoryAd"></span>

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Wall Street rallies after strong jobs report

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