Stocks jumped higher on Friday as a blockbuster fourth-quarter earnings report from Meta Platforms alongside a stronger-than-expected monthly jobs report propelled the broader market higher. The Dow Jones Industrial Average rose over 130 points, while the S&P 500 Index and Nasdaq Composite added 1% and 1.7%, respectively.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): +1.07% or +52.42 points to 4,958.61

Dow Jones Industrial Average (DIA  ): +0.35% or +134.58 points to 38,654.42

Nasdaq Composite Index (QQQ  ): +1.74% or +267.31 points to 15,628.95

In the Spotlight: The U.S. economy added 353,000 non-farm payrolls in January, the Labor Department reported on Friday, soaring past estimates for 185,000 addition by Dow Jones. The unemployment rate also remained at 3.7%, below expects for 3.8%. Beneath the headline, wages expected by a more-than-expected 4.5% annually in January.

Meanwhile, the University of Michigan's consumer sentiment index rose to 79.0 in January, ticking higher from December's print of 69.7. Moreover, current economic conditions rose to 81.9 over December's reading of 73.3.

"Consumer sentiment confirmed its early-month reading, surging 13% to reach its highest level since July 2021, reflecting improvements in the outlook for both inflation and personal incomes. January's gain has been exceeded only five times since 1978, one of which was last month at an even larger increase of 14%," said Joanne Hsu, director of Surveys of Consumers, in a statement. "Sentiment has resumed the upward trajectory from the all-time low measured in June of 2022, which had stalled in the late summer and fall of 2023."

On the Earnings Front: Meta Platforms (META  ) shares surged higher on Friday after the social media giant posted better-than-expected fourth-quarter earnings and revenue late Thursday and announced its first-ever dividend payout. The company's revenue rose 25% during the quarter compared to last year, as its online ad revenue continued to grow. For its dividend, Meta plans to pay investors $05.0 per share on March 26.

"We had a good quarter as our community and business continue to grow," CEO Mark Zuckerberg said in a statement. "We've made a lot of progress on our vision for advancing AI and the metaverse."

For its current quarter, Meta forecasts for sales in the range of $34.5 billion to $37 billion, above analyst expectations of $33.8 billion.

Amazon (AMZN  ) also reported strong fourth-quarter results on Thursday and issued better-than-expected guidance for its first-quarter ahead. For its current quarter, the e-commerce giant expects sales between $138 billion and $143.5 billion, representing growth of 8% to 13%.

"This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon," CEO Andy Jassy said in a statement. "As we enter 2024, our teams are delivering at a rapid clip, and we have a lot in front of us to be excited about."

Apple (AAPL  ), however, saw its shares fall on Friday after the tech giant reported disappointing sales in China during its fiscal first-quarter. The company also did not provide guidance for its current quarter, but CFO Luca Maestri said during an earnings call with investors that Apple expects iPhone sales for its fiscal second-quarter to be similar to the previous year's $51.33 billion in revenue.

Outside of big tech, ExxonMobil (XOM  ) reported better-than-expected earnings on Friday, but reported a year-over-year profit decline as oil prices weakened throughout the quarter. The company reported net income of $7.63 billion, representing $1.91 per share, falling 40% from the $12.75 billion profit reported for the same quarter last year.

Separately, Exxon announced a planned first-quarter dividend of $0.95 per share payable on March 11.

Chevron (CVX  ) also reported a year-over-year fourth-quarter profit decline on Friday, but posted a record amount of shareholders returns in 2023, returning $26.3 billion to investors through $11.3 billion in dividend and #14.9 billion in share buybacks throughout the year. The company said its board approved an 8% increase to its quarterly dividend to $1.63 starting in March.

"Our balance sheet is rock solid with single-digit net debt," CEO Michael Wirth told CNBC's "Squawk on the Street" on Friday. "We're built for a $50 world. We can cover our dividend, our capital spending at a much lower oil price."