Strong employment data unexpectedly dampens expectations of interest rate cuts, causing a plunge in US bonds and a decline in inflation expectations. US stocks open low and rise high, marking a six-week consecutive increase.

US consumer confidence index in December and expectations of inflation in the next year boosted confidence in a soft landing. The three major US stock indexes rose during the trading session, reaching new highs in at least 20 months and marking the longest weekly gain in four years; the energy sector rose more than 1% on Friday, leading the gains but still fell more than 3% for the week. NVIDIA rose nearly 2%, leading the gains in blue-chip technology stocks, while Alphabet-C fell more than 1% after a sharp rise on Thursday. Chinese concept stocks index fell for the second consecutive day, with XPENG-W falling more than 7%. European blue-chip stock index rebounded to a 16-year high, with the German stock market hitting a new high for the third time this week. After the non-farm payroll report, US bond yields rose more than 10 basis points, with the 10-year yield moving away from its three-month low and the 2-year yield reaching a new high for the month; the US dollar index jumped and reached a three-week high. The yen briefly fell nearly 2% after hitting a four-month high; the euro hit a new low for over three weeks and recorded the largest weekly decline in nearly seven months; offshore renminbi fell more than 200 points during the trading session, approaching 7.19, hitting a new low in nearly three weeks. Bitcoin rebounded and tested $44,000, reaching a high not seen in over a year. Crude oil rose more than 2%, ending a six-day losing streak but still falling for the seventh consecutive week, marking the longest losing streak in five years. Spot gold fell below $2,000 for the first time in two weeks during the trading session, and futures gold recorded its first weekly decline in a month. London copper rebounded to a one-week high, ending a three-week winning streak.