After a volatile Friday session in which equities swerved between modest gains and losses as investors grappled with data pointing to a robust labor market, US stocks halted a three-day advance.

Despite this, the S&P 500 posted a weekly gain that lifted the index to its highest level since August. Despite heavy selling after disappointing earnings reports from Apple, Alphabet, and Amazon on Thursday, the Nasdaq 100 advanced for the week. Friday's session concluded a busy week that included corporate earnings, economic data, and a Federal Reserve policy decision.

Treasury yields jumped after a surprisingly strong jobs report, giving the Fed room to remain aggressive if inflation remains high. The two-year yield increased by about 19 basis points after hitting a year low earlier in the week.

Trading on swaps Markets anticipate that the fed funds rate will nearly reach 5%, an increase of nearly 10 basis points from the previous day. A strong reading on the American economy's services sector fueled concerns that growth had not slowed sufficiently to temper price increases. On Friday, the dollar index rose the most since late September.