Stocks surged last week to their highest levels in years, but there are few key economic reports slated for the week ahead to sustain the rally.

The Federal Reserve said last week that it would keep its benchmark rate at record lows for at least another three years.

European stocks posted the biggest weekly gain this year, sending the Stoxx Europe 600 Index to its highest level in six months, as manufacturing increased globally and the U.S. jobless rate fell to the lowest in three years.

The surprisingly strong U.S. jobs data, and the growing momentum of a 10-week stock market rally could act as a magnet for buyers, with little in the way of new economic reports in the coming week.

A good day for stocks after a better than expected jobs report. Investors were pleased with the numbers released Friday, which showed that unemployment fell to 8.3 percent in January -- its lowest level in three years.

New York: A surge in hiring in the world's largest economy last month drove the Nasdaq to an 11-year high on Friday as optimism grew that the labor market is on a steady path to recovery.

In the face of improving economic numbers, U.S. government bonds seemed like the wrong place to be.

In this Jan. 25, 2012 photo, Daniela Silvero,left, an admissions officer at ASA College, discuss job opportunities with Patrick Rosarie, who is seeking a job in IT, during JobEXPO's job fair, in New York.

Since the 2008 financial crisis, the nation's professional stock-pickers - who manage billions for pension funds, endowments and wealthy families - have said stocks were too stuck-together to build smart, market-beating portfolios.

American employers substantially stepped up their hiring in January, bringing the unemployment rate down for the fifth month in a row.