The US economy added more jobs in January than expected. The unemployment rate fell, showing a stronger labor market. This news boosted the stock market, with the S&P 500 rising as investors considered the impact on the Federal Reserve’s policy and economic growth. Just two weeks ago, the Fed had upgraded its view of the job market to stable, but recent data showed a weaker-than-expected trend.
Source: https://www.investors.com/news/economy/jobs-report-january-federal-reserve-sp-500