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Stocks moved higher on Friday, buoyed by an unexpectedly strong jobs report that signaled a healthy economy. The S&P 500 climbed 0.9% to close at 5,751.07, while the Nasdaq Composite saw a 1.22% increase to 18,137.85. The Dow Jones Industrial Average also posted a notable gain, adding 341.16 points, or 0.81%, finishing at a record high of 42,352.75.

The upward movement in the markets followed the release of data showing that nonfarm payrolls surged by 254,000 in September, surpassing economists' predictions of a 150,000 increase. In addition, the unemployment rate declined to 4.1%, contrary to the expected rate of 4.2%. "After a summer of weak labor data readings, this is a reassuring reading that the U.S. economy remains resilient, supported by a healthy labor market," commented Michelle Cluver, head of ETF model portfolios at Global X. She added, "We remain in an environment where good economic news is good news for the equity market as it increases the potential for a soft landing."

Tech giants like Tesla, Amazon, and Netflix experienced notable gains, contributing to the Nasdaq's robust performance. Financials emerged as the top sector in the S&P 500, surging 1.6% and ending the session at a record high. JPMorgan Chase and Wells Fargo were among the leaders, each jumping more than 3%.

Small cap stocks joined the rally, with the Russell 2000 climbing 1.5%. This bounce helped to erase the losses that stocks had faced earlier in the month, driven by rising geopolitical tensions in the Middle East. The positive movement followed a shaky start to October, despite strong market performance in the year's first nine months.

For the week, the S&P 500 edged up by 0.22%, while the Dow saw a slight increase of 0.09%. The Nasdaq also marked a weekly gain of 0.1%.

Crude oil prices continued their upward trajectory on Friday, closing the week with nearly a 9% gain. This rise in oil prices coincided with increased geopolitical conflict in the Middle East, particularly after Iran launched a missile attack on Israel. Energy stocks followed the upward trend in oil prices, with the S&P 500 energy sector rising 7% for the week, its best performance since October 2022.