The NASDAQ climbed over 3% for the week, marking its third consecutive weekly gain and joining the S&P 500 in record territory. The S&P 500 rose 1%, while the Dow ended slightly lower after retreating from a record high achieved on Wednesday.

The U.S. labor market showed signs of recovery in November, adding 227,000 jobs—well above economists’ forecasts and significantly higher than October’s upwardly revised 36,000 jobs. Annual wage growth held steady at 4.0%, but the unemployment rate ticked up to 4.2% from 4.1%.

Growth stocks outperformed value stocks significantly, continuing the growth equity style’s dominance this year. A U.S. large-cap growth index gained 3.6% for the week, while a value index fell 1.9%.

U.S. consumer sentiment improved for the fifth month, reaching its highest level since May. The University of Michigan’s preliminary Consumer Sentiment Index for December rose to 74.0, up from November’s final reading of 71.8.

A European stock index recorded a nearly 2% weekly gain despite political turmoil in France, where the prime minister resigned under pressure on Wednesday.

Among S&P 500 sectors, communication services led earnings growth during the recent earnings season with a 23% year-over-year increase, according to FactSet. Across all sectors, earnings grew by an average of 5.8%, marking the fifth consecutive quarter of year-over-year growth.

On Wednesday, the release of a Consumer Price Index (CPI) report will provide a critical data point for the Federal Reserve ahead of its December 17–18 meeting. October’s CPI report showed an annual inflation rate of 2.6%, up from 2.4% in September, underscoring uneven progress toward the Fed’s long-term 2.0% inflation target.