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Close Update: Wall Street Rallies After Payrolls Surge With Nasdaq at Record High

Wall Street spent the day in the green and built on the gains in late trading, with the Nasdaq Composite finishing at a record high. The Dow Jones Industrial Average posted a triple-digit gain after the pivotal January jobs report came in well ahead of expectations.

Financials led gains on the S&P 500, rising 2% after President Donald Trump ordered a review of banking regulations that were introduced after the financial crisis. Goldman Sachs ( GS ) and JPMorgan Chase ( JPM ) were among the biggest advancers on the Dow. Citigroup ( C ), Bank of America ( BAC ) and Wells Fargo ( WFC ) all joined in the rally.

January nonfarm payrolls rose by 227,000, exceeding expectations for 175,000. The unemployment rate ticked up to 4.8%, but remained below the 5% level considered to be full employment. Hourly average wages only edged up three cents, or 0.1%, which could keep the Federal Reserve's plans for a rate hike at bay for now.

Visa (V) was the Dow's top performer after the credit card company reported fiscal Q1 results which were better-than-expected. But Amazon.com (AMZN) was down after the online retailer posted mixed Q4 results and issued downside guidance for Q1 revenues.

The busy slate of earnings continues Monday, with firms including Twenty-First Century Fox (FOX, FOXA), Newell Brands (NWL) and Lowes (LOW) on the calendar.

Here's where the markets stood by the close:

US MARKETS

Dow Jones Industrial Average was up 186.55 points (+0.94%) to 20,071.46

S&P 500 was up 16.57 points (+0.73%) to 2,297.42

Nasdaq Composite Index was up 30.57 points (+0.54%) to 5,666.77

GLOBAL SENTIMENT

FTSE 100 was up 0.67%

Nikkei 225 was up 0.02%

Hang Seng Index was down 0.24%

Shanghai China Composite Index was down 0.6%

UPSIDE MOVERS

(+) DATA (+14.7%) Better-than-expected Q4 results

(+) FTNT (+13.7%) Tops Q4 estimates

(+) ENVA (+7.9%) Beats on revenue for Q4

(+) MTD (+6.7%) Reports Q4 beat and guides Q1, FY17 above Street

(+) M (+6.4%) Report Hudson's Bay approaches co about buyout

DOWNSIDE MOVERS

(-) PSIX (-62%) Nasdaq halted shares earlier, requesting information

(-) DECK (-16%) Fiscal Q3 results miss expectations

(-) FEYE (-15.7%) Beats Q4 EPS estimate but Q1 seen light, CFO to leave

(-) GPRO (-12.7%) Q4 revenues miss expectations, Q1 revenue outlook below Street

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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