Eyes on the Fed, Greece after strong jobs report

"The strong monthly jobs report brings the possibility of an interest rate hike into focus, while concerns about Greece and the euro zone continue to weigh."

Next week brings relatively less economic data, with retail sales the primary point in focus. Analysts expect a 0.5 percent decline for January, after a 0.9 percent decline in December.

Federal Reserve Chair Janet Yellen's favored data report, the Job Openings and Labor Turnover Survey that comes out Tuesday, will shed more light on the U.S. economy.

On Friday, the Labor Department said the United States created 257,000 jobs in January, beating estimates of about 230,000. More importantly, average hourly earnings grew by 0.5 percent, above estimates.

"People are growing in real purchasing power," The unemployment rate rose to 5.7 percent, slightly above estimates.

Read more: "The unemployment rate went up for the right reason: participation rate going up,"