The Dow posted a record closing high on Friday and the Nasdaq ended with a more than 1% gain as a stronger-than-expected jobs report reassured investors who had worried the economy may be getting too weak.

Odds of a 50 basis point cut dropped to 0% from 53% last week after the strong September jobs report, according to the CME FedWatch Tool.

Friday’s report capped a week of mostly encouraging data on the job market, including an update indicating layoffs remain relatively low. Such strength helps allay one of Wall Street’s top questions: whether the job market will continue to hold up after the Federal Reserve earlier kept interest rates at a two-decade high.