Friday’s report capped a week of mostly encouraging data on the job market, including an update indicating layoffs remain relatively low. Such strength helps allay one of Wall Street’s top questions: whether the job market will continue to hold up after the Federal Reserve earlier kept interest rates at a two-decade high.

Odds of a 50 basis point cut dropped to 0% from 53% last week after the strong September jobs report, according to the CME FedWatch Tool.

The Nasdaq Composite rose 1.2%, while the Dow industrials and S&P 500 added about 0.8% and 0.9%, respectively. The blockbuster September U.S. payrolls eased recession fears.