Wall Street is stable after the jobs report shows strong hiring in April.

Trading on Wall Street stabilized on Friday after two wild days that saw the market rise and then collapse in quick succession after the latest U.S. employment report showed hiring continued at a rapid pace. in April.

Futures for the S&P 500 indicated a smooth start for trading later on Friday. The index fell 3.6 percent Thursday after the rally 3 percent Wednesday, but he’s headed for a small gain for the week.

Government bond yields have also changed little. The 10-year Treasury bill yield, a proxy of investor interest rate expectations, was just above 3%.

On Friday, the Labor Department reported that employers added 428,000 jobs in April, while the average hourly wage increased by 5.5% compared to a year ago. The unemployment rate remained stable at 3.6 per cent.

With the Federal Reserve quickly withdraw support from the economy, economists noted that the strong labor market and wage acceleration could incentivize the central bank to raise interest rates more aggressively. In April, Fed Chairman Jerome H. Powell described the job market as “unsustainable heat”, and investors fear the Fed could push the economy into a recession if it goes too far.

“Today’s report is balanced and could prove capable of dampening the extreme volatility of the last few days,” wrote John Lynch, chief investment officer of Comerica Wealth Management, in a statement. “We are not out of the woods yet, but a clearing is visible.”

However, the stock market has been hammered this year amid uncertainty about the fate of the economy. If the stocks end the week with a gain, it will be after the fall of the S&P 500 8.8 percent in April, the largest monthly drop in two years.