Stocks rallied after data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%.

Treasury yields soared in the bond market after the U.S. government said employers added 254,000 more jobs to their payrolls last month than they cut. That was an acceleration from August’s hiring pace of 159,000 and blew past economists’ forecasts.

U.S. indices accelerated on Friday as optimism about the economy was bolstered by an unexpectedly positive report on the job market in the country. The S&P 500 climbed 0.9 per cent and got close to its all-time high set on Monday.