US stocks closed higher on Friday as strong tech earnings and a strong jobs report boosted investor confidence. The Dow, S&P 500, and Nasdaq Composite all ended the week on a positive note. The US economy added 353,000 jobs in January, surpassing economists’ expectations. Treasury yields spiked after the jobs report was released, with some investors speculating that an interest rate cut in March is unlikely. Tech stocks, including Meta Platforms, Amazon, Nvidia, and Microsoft, performed particularly well following impressive earnings reports. The market will closely watch Treasury Secretary Janet Yellen’s testimony next week for insights into the US financial system’s health.
