FX.co ★ S&P 500 and Dow Rise to New Records

US equities rallied sharply on Wednesday after a stronger-than-expected jobs report highlighted a solid economic backdrop for corporate America. The Nasdaq 100 rose 1%, the S&P 500 gained 0.8%, and the Dow advanced 0.5%, with all three indices closing at new record highs. Non-farm payrolls increased by 130,000 from the previous month, driven by private-sector hiring and coming in at more than double consensus expectations, while the unemployment rate unexpectedly declined. The data pointed to renewed strength in the domestic labor market and challenged dovish rhetoric from some Federal Reserve officials. Equity gains were broad-based across sectors in premarket trading following the report, with particular strength in small-cap and technology shares, helping to offset a series of disappointing earnings headlines. T-Mobile fell 5% after reporting weaker-than-expected subscriber growth, while Humana slipped 1% on its results. Robinhood dropped 10% after missing fourth-quarter revenue estimates, and Mattel plunged 30% following soft holiday sales.