US STOCKS-Wall St dips after payrolls, but uptrend seen intact
* Dow, S&P 500 drop off record closing highs
* Fewer jobs added in October than expected
* Disney falls after results, Salix plummets
* Indexes down: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.2 pct (Updates to market open)
By Ryan Vlastelica
NEW YORK, Nov 7 (Reuters) - U.S. stocks receded from record levels on Friday as investors locked in profits after the October payroll report came in weaker than expected, even as the report pointed to economic resilience in the face of slowing global demand.
Employers added 214,000 new jobs last month, below the 231,000 that was expected, while the September report was revised higher. The unemployment rate fell to 5.8 percent from 5.9 percent.
"It's hard to not bet on the economy, with the fundamentals looking like a full house: earnings are rock solid, we're growing at a nice pace and confidence is up," said David Kelly, chief global strategist for JPMorgan Funds in New York.
"The number was slightly weaker than expected, but until we see real weakness or higher interest rates, we'll continue to be overweight on equities." Continuación...