Before the strong December jobs report was released, the odds were already low for an interest rate cut in the next Federal Reserve decision on January 29.

"The strong jobs report is good news for the economy but serves as the latest obstacle for markets that had increasingly priced in a steady stream of rate cuts from the Fed throug

The Labor Department reported that employers added 256,000 jobs in December. Unemployment drops to 4.1%. Read the implications of this report on the Fed policy.