The January jobs report was a beat.
Nonfarm payrolls grew by 257,000 in the first month of 2015, while wage growth topped expectations.
The unemployment rate ticked slightly higher in January, but still remains at levels not seen since July 2008.
Following this report, the US dollar is on a tear.
Stocks rallied early in the session, but gave up these gains and were trading in negative territory on Friday afternoon.
Near 1:25 pm ET, the Dow was down 38 points, the S&P 500 was down 2 points, and the Nasdaq was down 13 points.
The dollar, meanwhile, was adding to its gains and not stopping, rising more than 1.2% on Friday.
Here’s the huge spike in the dollar.
Treasury bonds were also selling off following the strong jobs report, as the market digests the further improvement in the labour markets and weighs the implications for potential interest rate increases from the Federal Reserve.
Via Bloomberg’s Joe Weisenthal, here’s a chart of the surge in the US 10-year Treasury bond on Friday, which is up about 12 basis points.
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