US stocks rallied on Friday after a surprisingly strong employment report eased fears of an economic slowdown. The Labor Department reported that the US economy added 128,000 jobs in August, exceeding economists’ expectations of around 110,000. The unemployment rate remained steady at 4.7%.

The Dow Jones Industrial Average jumped 100 points, while the S&P 500 and Nasdaq Composite also recorded significant gains. The strong jobs data boosted investor confidence and fueled buying across various sectors, particularly financial and technology stocks.

Analysts noted that the report suggests the US economy remains resilient despite concerns about rising interest rates and inflationary pressures. The positive data could influence the Federal Reserve’s monetary policy decisions in the coming months.