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%.

The Dow was up 0.5%, while the S&P 500 rose 0.6% and the Nasdaq Composite rallied 0.9%. Still, all three major U.S. stock indexes remained down modestly for the week, with the S&P 500 on track for a slight 0.1% weekly decline, FactSet data show, at last check.

The Dow Jones Industrial Average rose 341 points, or 0.8%, to set its own record, while the Nasdaq composite clambered 1.2% higher. Leading the way were banks, airlines, cruise-ship operators and other companies whose profits can benefit the most from a stronger economy where people are working and better able to pay for things.