US stocks edged higher Friday morning as investors digested a labor market report that, while modest, suggested the worst fears about job losses haven't materialized. The Dow Jones climbed 0.15% to 49,342.43, while the NASDAQ gained 0.29% to 23,547.90. The S&P 500 rose 0.29% to 6,941.76.

It's not exactly a hiring bonanza, but it's not a disaster either. After concerns about mounting job losses dominated the late summer and early weeks of the fourth quarter, the economy seems to have found its footing, at least for now.

Labor Market Holds Steady

The US economy added 50,000 nonfarm payrolls in December, according to the Bureau of Labor Statistics. That's essentially flat compared to November's downwardly revised 56,000 gain and slightly below the 60,000 economists were expecting. Not spectacular, but steady.

The unemployment rate improved from a downwardly revised 4.5% in November to 4.4%, landing below expectations of 4.5%. Meanwhile, average hourly earnings rose 0.3% on the month, accelerating from November's 0.2% increase and matching forecasts. Workers are getting modest raises even as hiring stays cautious.

Sectors: Utilities Shine, Discretionary Struggles

Utilities shares jumped 2% on Friday, leading the pack. On the other end, consumer discretionary stocks dipped 0.6%, suggesting investors are rotating into defensive plays rather than betting on consumer spending.

Big Movers: Winners and Losers

Rich Sparkle Holdings Ltd (ANPA) absolutely exploded, shooting up 112% to $51.41 after signing a $39 million offering of 3 million ordinary shares at $13 per share. That's quite the premium investors are paying.

Alpha Technology Group Ltd (ATGL) also surged, gaining 76% to $36.66 without any specific catalyst disclosed.

GreenPower Motor Company Inc (GP) climbed 61% to $1.32 after receiving a $5 million LEDA award from the State of New Mexico for a new facility, plus $9.6 million in jobs tax credits and incentive funds. Government money talks.

On the downside, Aquestive Therapeutics Inc (AQST) dropped 39% to $3.79 after receiving an FDA letter identifying deficiencies that preclude labeling discussions for anaphylm (dibutepinephrine) sublingual film. Regulatory setbacks can be brutal.

Aclarion Inc (ACON) fell 37% to $5.15, while Beta Bionics Inc (BBNX) dropped 34% to $21.12 after reporting preliminary fourth-quarter financial results that apparently disappointed investors.

Commodities Rally Across the Board

Oil traded up 2.3% to $59.11, while gold climbed 0.9% to $4,501.40. Silver had a particularly strong day, jumping 5.1% to $79.015, and copper rose 1.7% to $5.893. Investors seem to be hedging against uncertainty.

Global Markets Mixed

European shares closed higher, with the eurozone's STOXX 600 gaining 0.9%. London's FTSE 100 rose 0.9%, Germany's DAX climbed 0.4%, and France's CAC 40 jumped 1.3%. Spain's IBEX 35 Index bucked the trend, falling 0.2%.

Asian markets closed mostly higher Friday. Japan's Nikkei 225 gained 1.61%, Hong Kong's Hang Seng Index rose 0.32%, and China's Shanghai Composite climbed 0.92%. India's BSE Sensex fell 0.72%, the outlier in the region.

Other Economic Data

Beyond the jobs report, housing starts declined 4.6% from the previous month to an annualized rate of 1.246 million units. Building permits fell 0.2% to an annualized rate of 1.412 million in October, suggesting the housing market remains sluggish.

The University of Michigan's consumer sentiment index climbed to 54.0 in January, recording its strongest reading since September 2025. Consumers are feeling slightly better about things, even if they're not exactly euphoric.

The takeaway? The labor market isn't booming, but it's not collapsing either. For now, that modest stability seems to be enough to keep markets grinding higher.