In recent days, Fed Chair Jerome Powell and other officials have made it clear they're slowing down on lowering rates. Amid that tone and after the jobs showing, markets are pricing in no easing before July, per the CME FedWatch Tool.

The moves come as Wall Street is gearing up for December's nonfarm payrolls reading, which is scheduled to come out at 8:30 a.m. ET on Friday. Economists polled by Dow Jones expect to see an increase of 155,000, less than the gain of 227,000 in November's reading. Additionally, the unemployment rate is projected to remain at 4.2%.